647 Chapel StreetSouth Yarra VIC 3141
Property Details for 647 Chapel St, South Yarra
Last Listing description (August 2016)
- Substantial, fully refurbished building of 300sqm approx.
- Land area of 238 sqm approx. plus excellent rear access via Daly Street and Forest Hill
- New 5 x 5 x 5 year lease to Melbourne s iconic sweet destination Burch & Purchese
- Prominent two-level brick building featuring architecturally designed interiors
- Perfectly positioned between Toorak Road and Alexandra Avenue in the heart of the booming Forrest Hill high density precinct
- Next to The Olsen and opposite The Como Centre and Vogue (Kmart, Woolworths) and Melbourne High School to the rear
- Enormously successful location with a huge catchment of over 3,000 residents and workers immediately surrounding the property
- The property is further enhanced by the growing number residential projects currently under construction, including - - Royal Como, Gisele, 661 Chapel Street, W South Yarra, Wil & Co and many more
- Future value add potential (stca)
- Rare investment opportunity in a high growth location
- Inspection a must!
Property History for 647 Chapel St, South Yarra, VIC 3141
- 22 Mar 2024Sold for $13,675,000
- 04 Oct 2021Sold for $5,250,000
- 02 Jun 2016Sold for $3,200,000
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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 25,491 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.
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