73/73A Melville RoadPascoe Vale South VIC 3044
Property Details for 73/73a Melville Rd, Pascoe Vale South
73/73a Melville Rd, Pascoe Vale South is a 2 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 414m2.
Last Listing description (March 2024)
Offering multiple possibilities in a highly visible, easily accessible location, this double shopfront and rear residence, set over 416sqm (approx.) of total land, features two addresses on the one title. Offering incredible potential for development (STCA) or impressive flexibility for commercial and residential investment, this is an opportunity to put your stamp on this truly unique piece of real estate.
Situated right next to beloved local institution Miinot Gelato, on an eye-catching bend on Melville Road, local foot traffic promises ongoing retail interest. The twin shopfronts have been used as a recording studio previously with 73A recently leased as a pizzeria for $24,000 per annum plus outgoings (3 year term with annual increases).
Behind them finds a generous, unrenovated residence with original art deco features including glorious decorative ceilings and cornices, two bedrooms, living, meals/dining (with fireplace), kitchen, bathroom and laundry. It opens out to an expansive backyard which showcases an impressive space for further use.
The great location finds the 58 tram stopping right outside, with quick access onto Citylink. The popular parklands of Shore Reserve are just metres away, and you're close to local shops and numerous schools.
We donate a portion of our fee from every property transaction to the Woodards Foundation to support people experiencing homelessness, family violence and social isolation.
Property History for 73/73a Melville Rd, Pascoe Vale South, VIC 3044
- 20 Feb 2024Listed for Sale $930,000 - $990,000
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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.
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