Expressions of Interest Closing Tuesday 20 July at 4.00 (Unless Sold Prior)
On 342 sqm approx., this well maintained four-bedroom, double fronted Victorian is one of those rare opportunities for hidden value to be unlocked by those with a keen eye and creative mind. The original house is bestowed with 12ft high ceilings, deep cornices, deep skirting boards and a stately marble fireplace, four large bedrooms (BIRs), casual living & dining area, a 70s style kitchen, large powder room and secure garaging for two.
The funky first-floor apartment has its own entrance via Bunny Lane and tranquil views of leafy Fawkner Park. A modern addition, its sleek granite kitchen (stainless steel appliances), open plan entertaining area with timber floors, stylish study, 2 double bedrooms (BIRs), renovated bathroom/laundry, a private covered decked courtyard, security garaging for one.
As an investment property, you can take over with everything comfortable and clean, complete with security grills/shutters, hydronic heating, air conditioning, double glazing and ceiling fans in both residences. The gross returns of around $68,000pa are rewarding, but not nearly as rewarding as further development would be: whether as one landmark residence overlooking Fawkner Park or subdividing to create a luxury boutique block like no other, subject to council approval of course.
If you are standing out the front,, you would be forgiven for thinking to yourself, “this is a busy spot,” and you’d be right. What isn’t immediately obvious from out the front is the real hidden value that the property offers: views of Fawkner Park and two garages with wide frontage to Bunny Lane. Safe to say whoever ends up owning 485 Punt Road is far from a Bunny. Luckily you can take a look at the fancy drone photography, Google-map it, or book in for a private inspection to see just how much value is hidden at 485 Punt Road, South Yarra.
It is a busy spot, and with good reason: you’re around the corner from Fawkner Park, the Alfred Hospital, Prahran Market, Toorak Road boutiques and restaurants, trendy Chapel Street and the business district of St Kilda Road. There are many opportunities like this; so close to the action with the opportunity to just hide away by the park.
We donate a portion of our fee from every property transaction to the Woodards Foundation to support people experiencing homelessness, family violence and social isolation.
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