OFF MARKET

603 Esplanade
Lakes Entrance VIC 3909

Bedrooms: 2
Bathrooms: 1
Car spaces: 2
Land area: 1927m2
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Property Details for 603 Esplanade, Lakes Entrance

603 Esplanade, Lakes Entrance is a 2 bedroom, 1 bathroom Unit with 2 parking spaces. The property has a land size of 1927m2. While the property is not currently for sale or for rent, it was last sold in March 2015.

Building Type
Unit
Land Size
1927m2
Local Government
East Gippsland
Lot/Plan
2/LP215475

Last Listing description (July 2015)

Premier location in the heart of Lakes Entrance on the ever popular Esplanade. This fantastic property is so close to all that Lakes Entrance has to offer. Comprising the three bedroom main residence at the front of the property and a further 5 units on the property 2 of which are currently let on a permanent basis.
After consideration of estimated tenanted market rentals for the remaining units and house, the estimated gross yield is 10.6% before completion of works.*
Excellent opportunity to further develop the property or a complete redevelop (S.T.C.A.). Zoned Commercial 1, the total land size of 1,919sqm approx. and has rear access via a laneway.

Inspection by appointment only.
Michael Walstab
Accommodation and Tourism Broker.
* The above information has been furnished by the Vendor of the property. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own enquiries in order to determine whether or not this information is in fact accurate.

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Property History for 603 Esplanade, Lakes Entrance, VIC 3909

A timeline of how this property has performed in the market
Last Sold
$620,000
03 Mar 2015
Listed for Rent
$190/w
23 Dec 2015
  • 03 Mar 2015
    Sold for $620,000
  • 24 Jan 2013
    Listed for Sale $625,000 + GST (IF APPLICABLE)
  • 12 Mar 2010
    Listed for Sale $1,300,000 + GST IF APPLICABLE
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About Lakes Entrance 3909

The size of Lakes Entrance is approximately 28.1 square kilometres. It has 19 parks covering nearly 17.7% of total area. The population of Lakes Entrance in 2011 was 4,569 people. By 2016 the population was 4,801 showing a population growth of 5.1% in the area during that time. The predominant age group in Lakes Entrance is 60-69 years. Households in Lakes Entrance are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Lakes Entrance work in a labourer occupation. In 2011, 65% of the homes in Lakes Entrance were owner-occupied compared with 65.8% in 2016.

Lakes Entrance has 4,103 properties. Over the last 5 years, Houses in Lakes Entrance have seen a 73.13% increase in median value, while Units have seen a 64.20% increase. As at 31 October 2024:

  • The median value for Houses in Lakes Entrance is $542,190 while the median value for Units is $363,006.
  • Houses have a median rent of $450 while Units have a median rent of $370.
There are currently 106 properties listed for sale, and 5 properties listed for rent in Lakes entrance on OnTheHouse. According to CoreLogic's data, 121 properties were sold in the past 12 months in Lakes entrance.

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