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SOLD

16-18 Chambers Street, South Yarra, Vic 3141

Properties / Sold / Victoria / South Yarra

Development Potential

1. Property Summary

Property Type

Residential

Sub Type

Apartment Sites

Land Area

561 m² (*approx)

Selling Method

SOLD: Contact Agent

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2. Property Highlights

SOLD

Prime South Yarra Apartment Block With Development Upside

The forthcoming sale campaign at 16-18 Chambers Street, South Yarra presents a rare opportunity to acquire a prime South Yarra apartment block with significant development potential.

The high-profile corner allotment with three street frontages is only metres from the bustling Chapel Street & Toorak Road retail precincts. The property is further complimented by being within proximity to a plethora of public transport, sports facilities and parklands. The existing undercapitalised improvements of six quality apartments generate a strong holding income stream and a positive rental reversion potential.

Key investment highlights include –
• Current income of $140,052p.a.*
• Corner site area of 561m² with three street frontages
• Situated only metres from the thriving Chapel Street & Toorak Road retail shopping strips
• Favourable General Residential Zoning allows multi-storey development (STCA)
• Undercapitilised existing improvements of six presentable apartments
• Median house price of $1,865,500 supports a high-end development outcome
• Highly suitable to investors and developers
• Fantastic public transport amenity with the South Yarra train station only a short walk away

*Approx

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