33 Millswyn StreetSouth Yarra VIC 3141
Property Details for 33 Millswyn St, South Yarra
33 Millswyn St, South Yarra is a 14 bedroom, 13 bathroom Unit. The property has a land size of 635m2. While the property is not currently for sale or for rent, it was last sold in June 2024. There are other 14 bedroom Unit sold in South Yarra in the last 12 months.
Last Listing description (July 2024)
Success could be defined as living, & investing in the best location across the globe. Monaco, New York, & London come to mind, but where is the best place to live & invest on the planet? Everyone knows that Melbourne has taken out the worlds most liveable city in 3 of the last 10 years. Given Millswyn Street is undeniably one of the best locations in Melbourne, does it follow that this could be one of the best locations in the world? This rarified pocket between Fawkner Park, the best of the city & the Botanic Gardens we call the Domain Precinct, & the potential that still exists here is unmatched.
Mr & Mrs Hornung saw this potential by way of a development site advertised in 1962, & by 1963 had completed this block of 13 flats, using the 2-bedroom at the front for themselves. For over 60 years they enjoyed the returns & lifestyle that 31-33 Millswyn Street has to offer, & now it is your chance to enjoy all the benefits of owning trophy assets like this.
Whether it is improving the short-term returns, converting this significant swinging 60's design or a more long-term development view (STCA), the opportunities are endless when you take a closer look; you'd be one of the first since 1963. The renters are all enjoying the building "as is" & they'd love to stay for a new owner who wants to enjoy the immediate returns of around $200Kpa. There is significant room to increase these returns with individual upgrades to the apartments as they become vacant, or a more substantial conversion strategy or new design could yield rewarding results. Regardless of your view on the project, the location, position, & orientation all combine to create one of the best opportunities our market has seen for many years.
City views from the rear could be underrated, as could the 41m Northern boundary. What most people will say is that the building needs work & that the planning & heritage review by the City of Melbourne is restrictive, but what better time to buy 635sqm in the Domain Precinct? What's the quote about being fearful when others are greedy & greedy when others are fearful? There are countless examples of quirky buildings being underrated, only for the new owners to cash in when no one else could see it was the opportunity of a lifetime. Don't take this Agent's word for it, just take the time to think creatively about how 31-33 Millswyn could change you & your family's life.
Woodards & Meadows Property Group are proudly selling 31-33 Millswyn in conjunction.
Property History for 33 Millswyn St, South Yarra, VIC 3141
- 20 Jun 2024Sold for $4,975,000
- 23 May 2024Listed for Sale Undisclosed
- 06 Jun 2023Transferred
Commute Calculator
Recent sales nearby
See more recent sales nearby/assets/perm/ceaiv5gbbai6zm6fagsrgdp7xe?signature=4c07bd74925337d48bb25577c8c43f92897135cdcf7475891bbb3f7606f60804){kind=logo}
0/assets/perm/kvzz2pf6fmi6nduwcoc67hkezy?signature=28f8507f62339f32f5eba834933050654fc35209704881df2be508539bb11bdd){kind=logo}
0Similar properties For Sale nearby
See more properties for sale nearby
0
0
0Similar properties For Rent nearby
See more properties for rent nearby
0
0
0
About South Yarra 3141
The size of South Yarra is approximately 3.6 square kilometres. It has 19 parks covering nearly 19.1% of total area. The population of South Yarra in 2011 was 19,134 people. By 2016 the population was 25,143 showing a population growth of 31.4% in the area during that time. The predominant age group in South Yarra is 20-29 years. Households in South Yarra are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Yarra work in a professional occupation. In 2011, 36.8% of the homes in South Yarra were owner-occupied compared with 32.6% in 2016.
South Yarra has 25,486 properties. Over the last 5 years, Houses in South Yarra have seen a 6.39% increase in median value, while Units have seen a -3.84% decrease. As at 31 October 2024:
- The median value for Houses in South Yarra is $2,115,046 while the median value for Units is $599,695.
- Houses have a median rent of $725 while Units have a median rent of $588.
Suburb Insights for South Yarra 3141
Market Insights
South Yarra Trends for Houses
N/A
N/A
View TrendN/A
N/A
South Yarra Trends for Units
N/A
N/A
View TrendN/A
N/A
Neighbourhood Insights
© Copyright 2024 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic). All rights reserved.
This product uses cookies and other similar technologies to improve and customise your browsing experience, to tailor content and adverts, and for analytics and metrics regarding visitor usage on this product and other media. We may share cookie and analytics information with third parties for the purposes of advertising. By continuing to use our website, you consent to cookies being used. View our Privacy Policy here.
X
