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Sold on 28 Nov 2024 for $2,871,000

1 Swanston Street
Mentone VIC 3194

Bedrooms: 12
Bathrooms: 12
Car spaces: 9
Land area: 865m2
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Gary Peer & Associates Bentleigh
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Property Details for 1 Swanston St, Mentone

1 Swanston St, Mentone is a 12 bedroom, 12 bathroom Unit with 9 parking spaces and was built in 2012. The property has a land size of 865m2. While the property is not currently for sale or for rent, it was last sold in November 2024. There are other 12 bedroom Unit sold in Mentone in the last 12 months.

Building Type
Unit
Year Built
2012
Land Size
865m2
Local Government
Kingston
Lot/Plan
80/PS612989

Last Listing description (November 2024)

Unlock a golden investment opportunity with this exceptionally located strata-titled block of twelve apartments, perfectly positioned for a robust rental yield & great long-term hold. Offered for the first time ever & located on the fringe of Mentone?s bustling village, the corner property spans a generous 865m2*, housing a well-presented double-storey brick block of 12 one-bedroom kitchenette apartments, some of which have been stylishly renovated to include brand-new carpeting, sleek new kitchen & bathroom fit-outs & split systems. Each apartment is allocated an off-street parking space & is serviced by a communal onsite laundry.

A vibrant coastal suburb perfectly blending relaxed beachside living with modern conveniences, Mentone is renowned for its stunning beaches, picturesque parks, thriving caf? culture & proximity to shopping precincts including Mentone Centre, Mentone Village & Southland Shopping Centre. Well-serviced by public transport, nearby Mentone Station offers city-bound trains & a collection of extensive bus routes.

Seize the opportunity to establish yourself in a thriving rental market & reap the limitless returns available, with a raft of future prospects to renovate the remaining few or redevelop the spacious site (STCA).

*Approximate Title Dimensions.

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Property History for 1 Swanston St, Mentone, VIC 3194

A timeline of how this property has performed in the market
Last Sold
$2,871,000
28 Nov 2024
  • 28 Nov 2024
    Sold for $2,871,000
  • 29 Oct 2024
    Listed for Sale $2,500,000 - $2,750,000
  • 19 Mar 2016
    Listed for Sale EXPRESSIONS OF INTEREST
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About Mentone 3194

The size of Mentone is approximately 4.5 square kilometres. It has 13 parks covering nearly 5.9% of total area. The population of Mentone in 2011 was 11,667 people. By 2016 the population was 12,973 showing a population growth of 11.2% in the area during that time. The predominant age group in Mentone is 40-49 years. Households in Mentone are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mentone work in a professional occupation. In 2011, 66.7% of the homes in Mentone were owner-occupied compared with 62.9% in 2016.

Mentone has 7,983 properties. Over the last 5 years, Houses in Mentone have seen a 16.77% increase in median value, while Units have seen a 6.19% increase. As at 30 November 2024:

  • The median value for Houses in Mentone is $1,390,439 while the median value for Units is $649,524.
  • Houses have a median rent of $700 while Units have a median rent of $520.
There are currently 20 properties listed for sale, and 4 properties listed for rent in Mentone on OnTheHouse. According to CoreLogic's data, 350 properties were sold in the past 12 months in Mentone.

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