38 Rowan Street, Bendigo VIC 3550

A central Bendigo landholding with historic character, proven income, and multiple redevelopment options - now available after half a century.
Prime Inner-City Site with Flexible Potential
In one of Bendigo's most tightly held streets, 38 Rowan Street offers an exceptional opportunity for those with vision. Owned by the same family since the mid-1970s, this 500 m² (approx.) city-centre site combines heritage appeal with strong rental income and the flexibility to reimagine for residential, commercial, or mixed-use purposes (STCA).
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Current Configuration – Income from Day One
* Five self-contained apartments (mix of 1- and 2-bedroom).
* Each with split-system heating/cooling and dedicated car space.
* Current gross rental income: approx. $6,890 per month (6%+ gross yield).
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Multiple Future Pathways (STCA)
* Full restoration to a single grand residence.
* Hybrid model – retain some apartments, occupy the rest.
* Commercial conversion – ideal for medical, dental, or consulting suites. given proximity to Bendigo Health and allied health providers.
• Re-develop for premium multi-residential or short-stay accommodation to capitalise on the CBD location.
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Location Advantages
• 350 m to Bendigo's arts precinct and View Street cafés.
• Easy walk to shops, gardens, restaurants, and transport.
• Within minutes of Bendigo Health and professional services.
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Why 38 Rowan Street?
• First time offered in 50 years – rare chance to secure a tightly held address.
• Flexible zoning potential (STCA).
• Established rental return during planning and approvals phase.
• Strong capital growth prospects in a proven blue-chip pocket.

Opportunities in Bendigo's CBD are limited. Opportunities with income, location, and multiple redevelopment outcomes are even rarer. 38 Rowan Street delivers all three.