property
16 APARTMENTS UP FOR AUCTION SIXTEEN in-one-line two-bedroom apartments are going under the hammer for the first time in 45 years at 29 Stud Road, Dandenong. The property sits on a 2,013sqm* of land under RGZ2 zoning, opening the door to a medium density development to 13.5 metres, subject to council approval. The asset is being marketed and sold by Ray White Commercial Glen Waverley. Managing Director Ryan Trickey said the property provided a strong reliable income and offered financial security. In addition, potential future development means purchasers can add value instantly. “The asset is owned and was built by the vendor’s parents some 45 years ago,
with the building actually named after one of those family members,” Mr Trickey said. “At fully-leased rental, the property produces $218,140 p.a. with only one vacancy on-site right now, with this apartment receiving fresh carpet and minor cosmetic touch-ups. “Potential buyers can be confident in the fact the property has seen constant tenancies and upgrades over the years, with affordable rental across the property ensuring low vacancies. “Being so close to amenities like Dandenong Plaza, Dandenong Market and the train station means there’ll always be a strong tenant demand for young families and professionals alike. Continued page 10
HOME ESSENTIALS Address: 29 Stud Road, DANDENONG, VIC 3175 Auction: Friday 3 May 1pm onsite Contact: Ryan Trickey 0400 380 438 or Ben Ainsworth 0412 534 028, RAY WHITE COMMERCIAL GLEN WAVERLEY daNdENONG, NOBlE parK, SpriNGValE, KEySBOrOUGH, HallaM, dOVETON, ENdEaVOUr HillS
Enjoy living by the wetlands
12416932-SN18-19
MONday, 22 april, 2019 5 February, 2018
BLOCKS
283 - 585m2
PURCHASE WITH JUST A $10,000 DEPOSIT * * Terms & Conditions apply
timbertopestate.com.au 1300 925 349
Visit the Sales Suite 11am - 5pm daily 4 Cotswold Cres, Officer VIC 3809
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