OFF MARKET

2-4 Olive Drive
Morwell VIC 3840

Bedrooms: 12
Bathrooms: 8
Car spaces: 8
Floor area: 97m2
Land area: 2015m2
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Last updated 16 Dec 2024
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Property Details for 2-4 Olive Dr, Morwell

2-4 Olive Dr, Morwell is a 12 bedroom, 8 bathroom Unit with 8 parking spaces. The property has a land size of 2015m2 and floor size of 97m2. While the property is not currently for sale or for rent, it was last sold in October 2023.

Building Type
Unit
Floor Size
97m2
Land Size
2015m2
Local Government
Latrobe
Lot/Plan
11/LP128053

Last Listing description (December 2023)

This is a great opportunity to own your very own superannuation fund.

These 8 unit are solidly built with:

- 4 x 1 bedroom and 4 x 2 Bedroom

- Currently returning $86320 per year

- With potential increase due in the the 2023

- $1.55 -$1.6 Million

Contact Frank Palermo at KW Property Sales for an inspection on 0427049696

Property Code: 2346

Property Code: 2346

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Property History for 2-4 Olive Dr, Morwell, VIC 3840

A timeline of how this property has performed in the market
Last Sold
$1,510,000
30 Oct 2023
  • 30 Oct 2023
    Sold for $1,510,000
  • 20 Oct 2022
    Listed for Sale $1,550,000-$1,600,000
  • 14 Nov 2019
    Listed for Rent - Price not available
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About Morwell 3840

The size of Morwell is approximately 44.9 square kilometres. It has 31 parks covering nearly 5.9% of total area. The population of Morwell in 2011 was 14,005 people. By 2016 the population was 13,753 showing a population decline of 1.8% in the area during that time. The predominant age group in Morwell is 50-59 years. Households in Morwell are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Morwell work in a trades occupation. In 2011, 63.1% of the homes in Morwell were owner-occupied compared with 61.7% in 2016.

Morwell has 8,954 properties. Over the last 5 years, Houses in Morwell have seen a 80.40% increase in median value, while Units have seen a 41.20% increase. As at 30 November 2024:

  • The median value for Houses in Morwell is $324,509 while the median value for Units is $267,245.
  • Houses have a median rent of $373 while Units have a median rent of $295.
There are currently 67 properties listed for sale, and 12 properties listed for rent in Morwell on OnTheHouse. According to CoreLogic's data, 429 properties were sold in the past 12 months in Morwell.

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