Gross Waddell ICR is pleased to offer for the first time since construction, 19 & 21 Toolambool Road, Carnegie. These 2 significant and extremely exceptional apartment blocks consist of 16 quality apartments and are a blue-chip investment with significant rental reversion, strata conversion or future development opportunity (STCA).
• Expansive title with 2 allotments offering 1,575 sqm* of land with a favourable Residential Growth Zone (RGZ1)
• 2 apartment blocks consisting of 16 apartments in total
• A perfect apartment mix with 12 two-bedroom apartments and 4 one-bedroom apartments
• Fully leased with a substantial income stream of $240,396* per annum and boast significant rental reversion potential
• Underlying land value offering future development potential (STCA) with significant surrounding height precedents
• Supremely positioned for convenience and lifestyle with walking distance to Carnegie station, Carnegie Central Shopping Centre and Koornang Road retail precinct
• Ideal proximity to Monash University and Australia’s largest shopping centre being Chadstone Shopping Centre
• Surrounded by important social infrastructure, including 38 educational institutions within 3km* servicing over 39,000 students (source GapMaps)
• Carnegie offers a soaring median house price of $1,700,000 with a 6.3% growth in the past 12 months (source REIV)
19 & 21 Toolambool Road, Carnegie is offered for sale via an Expressions of Interest closing at 3:00 pm on Thursday the 19th of September 2024. For further information or to organise an inspection, please contact the team at Gross Waddell ICR directly.
*approx.
Director - Head of Sales - Partner
