4 Lola StreetMulgrave VIC 3170
Property Details for 4 Lola St, Mulgrave
4 Lola St, Mulgrave is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 1324m2 and floor size of 150m2. While the property is not currently for sale or for rent, it was last sold in March 2022.
Last Listing description (December 2023)
Presenting an exclusive opportunity that combines the best of both worlds! We are delighted to showcase two expansive blocks located in the heart of Mulgrave, each offering unique advantages to cater to your investment goals & aspirations.
Block 1 - Unleash your vision:
Existing Property:
Situated on the block is a delightful residence with three bedrooms and two bathrooms. This existing property provides a comfortable living space prioritizing functionality and style. With meticulously crafted plans and secured permits, you can construct two stunning townhouses on this block.
Unit 1: Double Storey
4 bedrooms, 3 bathrooms, 2 powder rooms and a double garage
Approximately 212 sqm
Unit 2: Double Storey
4 bedrooms, 3 bathrooms, 2 powder rooms and a double garage
Approximately 192sqm
With the permits in place, you have the opportunity to bring these extraordinary townhouses to life, fulfilling the demands of modern living and meeting the expectations of discerning buyers or tenants.
Block 2 - Steady Income:
Complementing the development potential of Block 1, the second block presents an attractive rental income opportunity. This block features an existing structure that generates a steady and reliable rental income of $1,869 per month. The existing property on Block 2 offers three bedrooms and one bathroom, providing a comfortable living space for tenants. With the rental income already in place, you can enjoy a consistent cash flow while directing your focus and resources towards the construction of the townhouses on Block 1.
The two blocks together offer a remarkable opportunity for investors and developers to maximize their returns. Unlock the potential by leveraging the existing rental income while planning and executing the development of Block 1. Seamlessly combine your vision with the thriving Mulgrave community to create an impressive portfolio.
Located in the vibrant heart of Mulgrave, both blocks benefit from the area's thriving community and convenient amenities. Enjoy easy access to schools, parks, shopping centers, and more, ensuring a lifestyle of comfort and convenience for residents or tenants.
Swift access to major transportation routes such as the M3 and Prices Highway remains accurate. Embrace the convenience of accessible transportation and the potential availability of nearby parks and recreational areas, which contribute to the overall appeal and desirability of the location.
Note: not for sale individually.
Property History for 4 Lola St, Mulgrave, VIC 3170
- 18 Dec 2023Listed for Sale Private Sale
- 29 Mar 2022Sold for $960,000
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0About Mulgrave 3170
The size of Mulgrave is approximately 10.7 square kilometres. It has 40 parks covering nearly 5.8% of total area. The population of Mulgrave in 2011 was 17,647 people. By 2016 the population was 19,380 showing a population growth of 9.8% in the area during that time. The predominant age group in Mulgrave is 30-39 years. Households in Mulgrave are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mulgrave work in a professional occupation. In 2011, 77.3% of the homes in Mulgrave were owner-occupied compared with 75.4% in 2016.
Mulgrave has 9,256 properties. Over the last 5 years, Houses in Mulgrave have seen a 20.64% increase in median value, while Units have seen a 17.77% increase. As at 31 October 2024:
- The median value for Houses in Mulgrave is $1,083,976 while the median value for Units is $836,245.
- Houses have a median rent of $628 while Units have a median rent of $630.
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