SOLD
Sold on 15 Jan 2024 for $803,000

64 Johnson Street
Maffra VIC 3860

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1000m2
Sold By
Wellington Real Estate Pty Ltd
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Property Details for 64 Johnson St, Maffra

Building Type
Commercial
Land Size
1000m2
Local Government
Wellington
Lot/Plan
1/TP892850

Last Listing description (October 2024)

Opportunity to invest in iconic commercial real estate doesn't come around all that often.
Combine a historical landmark with an approved planning permit to further develop this solid investment with accommodation apartments and you have the ability for strong returns into the future.
The property has a wealth of history dating back to circa 1880, when the sandstone building was constructed. A solid brick building taking in the design of a bygone era with the potential to bring the dcor into the modern world.

Renovate the current commercial premise to create a stylish Bed and Breakfast accommodation centre, vibrant hospitality hub, professional office space or managers residence.
The approved planning permit for a further 8 accommodation apartments at the rear, creates a further investment advantage to the property.
With a land parcel of approximately 1000m2 there is ample land for the development and access is via Little Johnson Street.
This is a rare opportunity to acquire a quality commercial property with history, character and fantastic potential returns.

Property History for 64 Johnson St, Maffra, VIC 3860

A timeline of how this property has performed in the market
Last Sold
$803,000
15 Jan 2024
Listed for Rent
$21k/w
04 Aug 2023
  • 18 Jan 2024
    Listed for Sale $750,000
  • 15 Jan 2024
    Sold for $803,000
  • 02 Nov 2023
    Listed for Sale $750,000
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About Maffra 3860

The size of Maffra is approximately 82.4 square kilometres. It has 17 parks covering nearly 1.9% of total area. The population of Maffra in 2011 was 5,113 people. By 2016 the population was 5,264 showing a population growth of 3.0% in the area during that time. The predominant age group in Maffra is 50-59 years. Households in Maffra are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Maffra work in a trades occupation. In 2011, 72.7% of the homes in Maffra were owner-occupied compared with 72.8% in 2016.

Maffra has 3,051 properties. Over the last 5 years, Houses in Maffra have seen a 64.82% increase in median value, while Units have seen a 45.83% increase. As at 30 November 2024:

  • The median value for Houses in Maffra is $430,701 while the median value for Units is $310,885.
  • Houses have a median rent of $430 while Units have a median rent of $355.
There are currently 8 properties listed for sale, and 1 property listed for rent in Maffra on OnTheHouse. According to CoreLogic's data, 126 properties were sold in the past 12 months in Maffra.

Suburb Insights for Maffra 3860

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Disclaimer
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.