OFF MARKET

225 Melville Road
Pascoe Vale South VIC 3044

Bedrooms: -
Bathrooms: -
Car spaces: 2
Land area: 154m2
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Property Details for 225 Melville Rd, Pascoe Vale South

Building Type
Commercial
Year Built
1930
Land Size
154m2
Local Government
Merri-Bek
Lot/Plan
10/LP22749

Last Listing description (March 2021)

Rear access and on-site parking
3 x 3 x 3 Year Lease Agreement
Rental $38,192.00 per Annum

Area: 154m approx.

Rendina Real Estate is pleased to offer a secure hospitality investment with dwelling.
225 Melville Road, Pascoe Vale South is a pure investment opportunity in the Bell St and Melville Rd precinct. The property is conveniently located at a walking distance to the tram number 58 city bound tram line, as well as to adjoining local businesses.
The property is occupied by Pizza Locale Shop 225, tackling a new, fresh approach to the local Pascoe Vale South culture. We are excited to announce that Pizza Locale have committed to a 3 x3 x 3 year lease agreement, with a net return of $38,192 per annum plus GST and outgoings. In operation since 2015, Pizza Locale has proven to be a strong and thriving business.
Should you require any further information, please contact Rendina Real Estate on 9381 6500.

** COVID-19 Announcement **
If you're attending an open for inspection, we request that you only attend if you are fit and healthy to do so and not under any self-isolation conditions. We request that you maintain a healthy distance from anyone attending the open for inspection, including other prospective buyers and our team members, and if requested wait outside so as to reduce the number of people in the property at any one time. Lastly, please refrain from touching items/fixtures and doors within the properties. If you would like to view something in particular, please request the agent's assistance.
Thank you for your understanding.

Property History for 225 Melville Rd, Pascoe Vale South, VIC 3044

A timeline of how this property has performed in the market
Last Sold
$850,000
26 Feb 2021
Listed for Rent
$690/w
25 Jun 2015
  • 26 Feb 2021
    Sold for $850,000
  • 14 Jan 2021
    Listed for Sale Auction Fri 26th Feb 11:00am - $850,000 - $900,000
  • 29 Apr 2015
    Listed for Rent $36,000 / year
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About Pascoe Vale South 3044

The size of Pascoe Vale South is approximately 3.1 square kilometres. It has 10 parks covering nearly 5.2% of total area. The population of Pascoe Vale South in 2011 was 9,532 people. By 2016 the population was 10,055 showing a population growth of 5.5% in the area during that time. The predominant age group in Pascoe Vale South is 40-49 years. Households in Pascoe Vale South are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Pascoe Vale South work in a professional occupation. In 2011, 77.2% of the homes in Pascoe Vale South were owner-occupied compared with 76.6% in 2016.

Pascoe Vale South has 4,893 properties. Over the last 5 years, Houses in Pascoe Vale South have seen a 14.81% increase in median value, while Units have seen a 3.95% increase. As at 30 November 2024:

  • The median value for Houses in Pascoe Vale South is $1,163,354 while the median value for Units is $631,500.
  • Houses have a median rent of $678 while Units have a median rent of $510.
There are currently 6 properties listed for sale, and 3 properties listed for rent in Pascoe vale south on OnTheHouse. According to CoreLogic's data, 181 properties were sold in the past 12 months in Pascoe vale south.

Suburb Insights for Pascoe Vale South 3044

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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.