SOLD
Sold on 07 Aug 2024 for $750,000

7 Mitchell Street
Rosebud VIC 3939

Bedrooms: 2
Bathrooms: -
Car spaces: -
Floor area: 120m2
Land area: 745m2
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Property Details for 7 Mitchell St, Rosebud

Building Type
Land
Year Built
1940
Floor Size
120m2
Land Size
745m2
Local Government
Mornington Peninsula
Lot/Plan
30/LP10496

Last Listing description (September 2024)

Presenting a tantalising opportunity for savvy investors, this property is a blank canvas, perfect for those ready to capitalise on its substantial potential. Nestled in a highly desirable location, merely a stone's throw from the idyllic Rosebud foreshore, this is a chance to harness the essence of seaside living while transforming a vision into reality.

Boasting an expansive site of approximately 745 square metres, this offering is rich with possibilities. With proximity to local schools, an array of shopping options at both McCrae and Rosebud centres, as well as a variety of restaurants, convenience is at your doorstep. Whether you are looking to create a singular, luxurious abode or explore the potential for a 3-4unit development (subject to council approval), or the zoning is also open to offices such as medical etc ,the promise of a lucrative investment awaits.

While the existing structure is admittedly past its prime, it is the vast, unadulterated land that is of the essence here. Investors will appreciate the opportunity to start anew, erecting a property (or properties) that not only meets modern standards but exceeds them, offering a lifestyle of comfort and convenience.

This is not just a purchase; it is an investment in a future of prosperity. With a must-sell status, the promise of growth and return on investment is palpable. Seize the chance to craft a stunning residential showcase in the heart of one of Victoria's most beloved coastal towns. This property is poised to become a beacon of transformation and profit for those with the vision to see its true potential.

Property History for 7 Mitchell St, Rosebud, VIC 3939

A timeline of how this property has performed in the market
Last Sold
$750,000
07 Aug 2024
  • 07 Aug 2024
    Sold for $750,000
  • 04 Jul 2024
    Listed for Sale Not Disclosed
  • 03 Jan 2015
    Sold for $375,000
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About Rosebud 3939

The size of Rosebud is approximately 17.1 square kilometres. It has 36 parks covering nearly 26.1% of total area. The population of Rosebud in 2011 was 12,501 people. By 2016 the population was 13,188 showing a population growth of 5.5% in the area during that time. The predominant age group in Rosebud is 60-69 years. Households in Rosebud are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Rosebud work in a trades occupation. In 2011, 68.9% of the homes in Rosebud were owner-occupied compared with 67.9% in 2016.

Rosebud has 10,831 properties. Over the last 5 years, Houses in Rosebud have seen a 33.61% increase in median value, while Units have seen a 29.60% increase. As at 31 October 2024:

  • The median value for Houses in Rosebud is $764,159 while the median value for Units is $653,771.
  • Houses have a median rent of $530 while Units have a median rent of $550.
There are currently 91 properties listed for sale, and 16 properties listed for rent in Rosebud on OnTheHouse. According to CoreLogic's data, 417 properties were sold in the past 12 months in Rosebud.

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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.