SOLD
Sold on 23 Aug 2024 for $220,000

113/377 Nepean Highway
Frankston VIC 3199

Bedrooms: 3
Bathrooms: 1
Car spaces: -
Floor area: 56m2
Land area: 3870m2
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Property Details for 113/377 Nepean Hwy, Frankston

113/377 Nepean Hwy, Frankston is a 3 bedroom, 1 bathroom Unit and was built in 2005. The property has a land size of 3870m2 and floor size of 56m2. While the property is not currently for sale or for rent, it was last sold in August 2024. There are other 3 bedroom Unit sold in Frankston in the last 12 months.

Building Type
Unit
Year Built
2005
Floor Size
56m2
Land Size
3870m2
Local Government
Frankston
Lot/Plan
113/PS519929

Last Listing description (October 2024)

This extra-large and bright one bedroom apartment offers a long term lease, a high 8.5% return and reduced outgoings.

*** PLEASE NOTE: THIS PROPERTY IS SUBJECT TO A LONG TERM LEASE AND IS FOR INVESTORS ONLY ***

Quietly positioned at the rear of the complex the elevated ground floor location offers a leafy garden aspect to the reserve beyond. The apartment boasts high ceilings, a huge living/dining area opening to the garden terrace, excellent natural light and a fully equipped kitchen complete with quality appliances plus reverse cycle air-conditioning. The generous king sized bedroom has built in robes and opens to the a stylish well-appointed bathroom with laundry facilities. The building is superbly maintained and offers modern amenities, including an intercom system, a heated pool, a BBQ area, and dedicated parking on title.

Rental Income: $19,478.14 pa / $375 pw
Rent Increases: Annual 4% increase thereafter each April 11th
Annual Return: 8.5% Gross
Lease Expiry Date: April 10, 2025
Lease Extension Option: 4 x 5 years

Tenant (Quest) outgoings:
Owners Corporation administration fund
Water usage
Insurance
General maintenance

Owners outgoings:
Owners Corporation maintenance fund: $453.75 pa
Council rates: $1,211.95 pa
Water rates (excluding usage): $666.40 pa

While great care has been taken in assembling the information presented above, it is important to emphasise that these details are provided for informational purposes only and should not be considered as representations by the Owner or the Agent.

Please contact Martin Russell on 0417 005 302 to arrange an inspection.

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Property History for 113/377 Nepean Hwy, Frankston, VIC 3199

A timeline of how this property has performed in the market
Last Sold
$220,000
23 Aug 2024
  • 23 Aug 2024
    Sold for $220,000
  • 08 Jun 2024
    Listed for Sale $229,000
  • 07 Jan 2015
    Listed for Sale $275,000
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About Frankston 3199

The size of Frankston is approximately 19.8 square kilometres. It has 72 parks covering nearly 21.2% of total area. The population of Frankston in 2011 was 35,009 people. By 2016 the population was 36,090 showing a population growth of 3.1% in the area during that time. The predominant age group in Frankston is 30-39 years. Households in Frankston are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Frankston work in a professional occupation. In 2011, 58.7% of the homes in Frankston were owner-occupied compared with 56.8% in 2016.

Frankston has 21,742 properties. Over the last 5 years, Houses in Frankston have seen a 21.15% increase in median value, while Units have seen a 20.33% increase. As at 28 February 2025:

  • The median value for Houses in Frankston is $735,651 while the median value for Units is $509,131.
  • Houses have a median rent of $550 while Units have a median rent of $470.
There are currently 104 properties listed for sale, and 60 properties listed for rent in Frankston on OnTheHouse. According to CoreLogic's data, 958 properties were sold in the past 12 months in Frankston.

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