118 Commercial RoadKoroit VIC 3282
Property Details for 118 Commercial Rd, Koroit
118 Commercial Rd, Koroit is a 1 bedroom, 1 bathroom House with 3 parking spaces. The property has a land size of 454m2. While the property is not currently for sale or for rent, it was last sold in November 2014.
Last Listing description (December 2014)
Rail Trail Cottage
This former historic shop has been carefully and lovingly renovated to the highest quality with Art Nouveau fretwork, ceiling roses and Baltic Pine Lining Boards. The solid Jarrah timber kitchen which, fitted with glass cabinetry, wine racks and large pantry is a clear indication of the quality of this renovation. The spacious main living area is serviced with a reverse cycle heating/ac unit and is deceivingly large providing plenty of space to unwind and enjoy the home. To identify the location as convenient is certainly an understatement as the cottage is perfectly positioned in the center of town with restaurants, hotels and the supermarket literally a couple of doors away. The property has a large variety of usages re: prime commercial space, a combination of prime commercial and residential or continue its current usage as a holiday and medium term accommodation which has been very successful (figures available). All of the future indicators are positive and this type of property seems destined to prove to be a wise investment. Alternatively this charming, character filled home offers a young couple or a first home owner the perfect opportunity to enter the property market in style as there is absolutely nothing to do. An additional incentive for the purchaser is that the vendors are happy to part with all the internal furnishings, including all of the historic railway memorabilia.
An inspection will prove to be well worth your while, call today to arrange an inspection.
Property History for 118 Commercial Rd, Koroit, VIC 3282
- 19 Nov 2014Sold for $185,000
- 18 Jun 2013Listed for Sale 199500
- 23 Feb 2012Listed for Sale $205,000
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About Koroit 3282
The size of Koroit is approximately 42 square kilometres. It has 2 parks covering nearly 0.6% of total area. The population of Koroit in 2011 was 1,957 people. By 2016 the population was 2,043 showing a population growth of 4.4% in the area during that time. The predominant age group in Koroit is 50-59 years. Households in Koroit are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Koroit work in a trades occupation. In 2011, 78% of the homes in Koroit were owner-occupied compared with 77.9% in 2016.
Koroit has 1,279 properties. Over the last 5 years, Houses in Koroit have seen a 74.39% increase in median value, while Units have seen a 34.22% increase. As at 31 August 2024:
- The median value for Houses in Koroit is $606,982 while the median value for Units is $375,521.
- Houses have a median rent of $500.
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