OFF MARKET

50 Glen Eira Road
Ripponlea VIC 3185

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 75m2
Land area: 534m2
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Property Details for 50 Glen Eira Rd, Ripponlea

Building Type
Commercial
Floor Size
75m2
Land Size
534m2
Local Government
Port Phillip
Lot/Plan
2/RP12873

Last Listing description (April 2023)

This affordable Retail investment presents the perfect opportunity to add to your property portfolio, strategically located in one of Melbourne's most affluent suburbs in the centre of Ripponlea's bustling shopping precincts, steps to Ripponlea train station offers an opportunity to the astute investor or future owner occupier.

Key Features:


-Striking single-level building with high ceilings comprising retail shop with rear courtyard
-Currently Leased to Retail Clothing Store "Camelia" since May 2014. https://www.camelia.com.au/
-Total land area: 93 sqm approx
-Land Size: 6.096m x 15.24m approx
-Total building area: 75 sqm approx
-Current Lease 3 years commenced 06/05/2022
-Current Income: $30,985.44 + outgoings + GST
-Fixed annual increases of 3%
-Zoned Commercial 1
-Located in the heart of Ripponlea Village, metres from Ripponlea train station, Attica, Coles Express & IGA & many successful retailers.
-Affordable investment that offers potential to future occupiers on expiry of the Lease
-Underpinned by affluent catchment of premium Bayside suburb of Ripponlea with a median house value of $1,650,000

Inspections:
Saturday 06/08/2022 - 10:30am - 11:00am
Saturday 13/08/2022 - 11:00am - 11:30am
Saturday 20/08/2022 - 11:00am - 11:30am
Thursday 25/08/2022 - 02:00pm - 02:30pm

Sale method: On site Auction Thursday 25th August 2022 at 2:30pm

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Property History for 50 Glen Eira Rd, Ripponlea, VIC 3185

A timeline of how this property has performed in the market
Last Sold
$902,000
25 Aug 2022
Listed for Rent
$518/w
16 May 2014
  • 25 Aug 2022
    Sold for $902,000
  • 02 Aug 2022
    Listed for Sale Sold for $902,000 Thinking of selling call Steve 0417 311 006
  • 16 May 2014
    Listed for Rent $27,040 / year
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About Ripponlea 3185

The size of Ripponlea is approximately 0.3 square kilometres. It has 2 parks covering nearly 3.5% of total area. The population of Ripponlea in 2011 was 1,477 people. By 2016 the population was 1,572 showing a population growth of 6.4% in the area during that time. The predominant age group in Ripponlea is 20-29 years. Households in Ripponlea are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Ripponlea work in a professional occupation. In 2011, 43.4% of the homes in Ripponlea were owner-occupied compared with 43.6% in 2016.

Ripponlea has 929 properties. Over the last 5 years, Houses in Ripponlea have seen a 24.12% increase in median value, while Units have seen a 4.90% increase. As at 31 August 2024:

  • The median value for Houses in Ripponlea is $1,925,581 while the median value for Units is $581,178.
  • Houses have a median rent of $850 while Units have a median rent of $500.
There are currently 5 properties listed for sale, and 1 property listed for rent in Ripponlea on OnTheHouse. According to CoreLogic's data, 33 properties were sold in the past 12 months in Ripponlea.

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