23 Belmore StreetYarrawonga VIC 3730
Property Details for 23 Belmore St, Yarrawonga
Last Listing description (April 2024)
Located in the tightly held main street of Yarrawonga, at the Lake Mulwala end of Belmore Street, 23-25 Belmore St is a multi-faceted income stream and commercial opportunity beckoning for the astute investor.
Comprising of four separate commercial tenancies covering retail, professional services, and food/hospitality, as well as two self-contained apartments currently leased through Airbnb and booking.com as short-stay accommodation, this is a solid investment opportunity with room to grow. The Commercial leases return an approximate combined income of $87,589.84 per annum, while the "Apartments on Belmore" averaged $102,500 per annum across the 21/22 & 22/23 financial years.
The updated commercial buildings are in very good condition, occupied by strong tenancies with Elders Insurance, Abode Living, and Ali Baba Kebabs, all enjoying this main street location. Housemade Food & Coffee is accessed via the main street entrance alley to the bespoke rear courtyard, servicing those looking for a bite on the run or those ready to enjoy the quiet garden setting. While the commercial tenancies are effectively "set and forget", the Apartments on Belmore provide flexibility with the potential to increase occupancy through further marketing.
Their proximity to the hub of Yarrawonga, providing secure onsite parking with an additional and easily accessible public car park, all while being a short 200m stroll to the Lake Mulwala foreshore, will ensure that these apartments are always high on the wish list of holidaymakers. Maybe you've thought of retiring to the area and can live in one of the apartments, with your income assured via the balance of the portfolio. The possibilities are endless.
Property History for 23 Belmore St, Yarrawonga, VIC 3730
- 06 Apr 2024Sold for $2,600,000
- 05 Apr 2024Sold for $2,600,000
- 28 Feb 2024Listed for Sale SOLD
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0About Yarrawonga 3730
The size of Yarrawonga is approximately 95.9 square kilometres. It has 10 parks covering nearly 1.6% of total area. The population of Yarrawonga in 2011 was 7,056 people. By 2016 the population was 7,916 showing a population growth of 12.2% in the area during that time. The predominant age group in Yarrawonga is 60-69 years. Households in Yarrawonga are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Yarrawonga work in a trades occupation. In 2011, 71.2% of the homes in Yarrawonga were owner-occupied compared with 69.8% in 2016.
Yarrawonga has 6,740 properties. Over the last 5 years, Houses in Yarrawonga have seen a 65.01% increase in median value, while Units have seen a 96.01% increase. As at 31 July 2024:
- The median value for Houses in Yarrawonga is $665,804 while the median value for Units is $427,251.
- Houses have a median rent of $500 while Units have a median rent of $400.
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