1 Carmichael StreetWest Footscray VIC 3012
Property Details for 1 Carmichael St, West Footscray
1 Carmichael St, West Footscray is a 12 bedroom, 12 bathroom Unit. The property has a land size of 1163m2 and floor size of 167m2. While the property is not currently for sale or for rent, it was last sold in June 2024. There are other 12 bedroom Unit sold in West Footscray in the last 12 months.
Last Listing description (August 2024)
Welcome to a lucrative investment opportunity at 8 Carmichael Street, Footscray - a strategically positioned development featuring twelve modern 1-bedroom apartments on a sizable block of 1007m2. This prime real estate promises not only contemporary living but also a smart investment for those seeking to capitalize on the dynamic property market.
With a keen eye on maximizing returns, 8 Carmichael Street offers a unique combination of location, design, and potential for substantial rental income. The single block layout ensures efficient use of space, allowing for the creation of desirable, well-appointed 1-bedroom apartments. This tailored design aims to attract a broad range of tenants, from young professionals to couples, ensuring a steady and diverse rental market.
The expansive 1007m2 block not only provides an attractive living environment for residents but also represents a significant value proposition for investors. This generous land size opens up possibilities for future development or enhancement, potentially increasing the overall value of the property in the long run.
The prime location of 8 Carmichael Street is a key factor in its investment appeal. Footscray's ongoing urban development and popularity make it a hot spot for real estate investment. Proximity to local amenities, public transportation, and the vibrant atmosphere of the neighborhood ensure a high demand for rental properties in this area.
Consider the potential for rental yield and capital growth as Footscray continues to evolve. The growing demand for well-located, stylish living spaces in Footscray positions 8 Carmichael Street as a prime investment opportunity.
Property History for 1 Carmichael St, West Footscray, VIC 3012
- 21 Jun 2024Sold for $2,725,000
- 07 May 2024Listed for Sale $2,600,000 - $2,800,000
- 06 Sep 2022Listed for Sale $3,700,000 - $3,900,000
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0About West Footscray 3012
The size of West Footscray is approximately 3.8 square kilometres. It has 10 parks covering nearly 8.5% of total area. The population of West Footscray in 2011 was 10,223 people. By 2016 the population was 11,456 showing a population growth of 12.1% in the area during that time. The predominant age group in West Footscray is 30-39 years. Households in West Footscray are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Footscray work in a professional occupation. In 2011, 57.9% of the homes in West Footscray were owner-occupied compared with 53.6% in 2016.
West Footscray has 6,666 properties. Over the last 5 years, Houses in West Footscray have seen a 11.10% increase in median value, while Units have seen a 15.92% increase. As at 31 October 2024:
- The median value for Houses in West Footscray is $949,239 while the median value for Units is $536,021.
- Houses have a median rent of $600 while Units have a median rent of $430.
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