SOLD
Sold on 17 Aug 2024 for $565,000

3-5 Merlyn Street
Coburg North VIC 3058

Bedrooms: 2
Bathrooms: -
Car spaces: -
Land area: 241m2
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Property Details for 3-5 Merlyn St, Coburg North

Building Type
Commercial
Land Size
241m2
Local Government
Merri-Bek
Lot/Plan
41/LP8063

Last Listing description (August 2024)

Barry Plant Glenroy is proud to exclusively offer for sale 3-5 Merlyn Street Coburg North, a desirable investment consisting of retail/residential building.

Investment highlights:

- Commercial 1 Zone (C1Z)

- Offered with tenant already in place giving the investor a good start, or explore future owner-occupation or high density development options (STCA)

- Land area totalling 241m2 (approx.)

- Single level retail/residential building totalling 185m2(approx.)

- Excellent frontage to Merlyn Street - public car parking plus rear access via ROW

- Building: Shopfront, cool room, storage rooms, three bedrooms, kitchen, living, bathroom, laundry, verandah, and carport parking.

- Surrounded by variety of established retail including post office, supermarket, chemist, medical centre, cafes, barber and more.

- Located in a suburb with a median house price of $1,100,000 (source: REIV, July 2024)

- The property is offered for sale via PUBLIC AUCTION to be conducted on-site, Thursday 22nd August at 2pm.

DISCLAIMER:
In preparing this information, Barry Plant Glenroy has used our best endeavours to ensure that the statements contained herein are true and accurate. All information (including but not limited to the property area, floor size, price, address and general property description) has been provided to Barry Plant Glenroy by third parties. As such, Barry Plant Glenroy makes no statement, representation, or warranty and assumes no legal liability in relation to the accuracy, context or suitability for any purpose of the information provided in advertising the property. Prospective purchasers should conduct their own due diligence and inquiries to verify the information independently.

Property History for 3-5 Merlyn St, Coburg North, VIC 3058

A timeline of how this property has performed in the market
Last Sold
$565,000
17 Aug 2024
  • 17 Aug 2024
    Sold for $565,000
  • 25 Jul 2024
    Listed for Sale $565,000
  • 20 Dec 1996
    Sold for $72,500
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About Coburg North 3058

The size of Coburg North is approximately 4.9 square kilometres. It has 20 parks covering nearly 18.4% of total area. The population of Coburg North in 2011 was 6,575 people. By 2016 the population was 7,615 showing a population growth of 15.8% in the area during that time. The predominant age group in Coburg North is 30-39 years. Households in Coburg North are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Coburg North work in a professional occupation. In 2011, 66.7% of the homes in Coburg North were owner-occupied compared with 66% in 2016.

Coburg North has 5,197 properties. Over the last 5 years, Houses in Coburg North have seen a 24.18% increase in median value, while Units have seen a 12.64% increase. As at 30 November 2024:

  • The median value for Houses in Coburg North is $1,054,204 while the median value for Units is $687,907.
  • Houses have a median rent of $600 while Units have a median rent of $550.
There are currently 12 properties listed for sale, and 15 properties listed for rent in Coburg north on OnTheHouse. According to CoreLogic's data, 192 properties were sold in the past 12 months in Coburg north.

Suburb Insights for Coburg North 3058

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Barry Plant - Glenroy
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Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.