Exceptional Development Potential offering strong rental return

Presenting an exclusive and rare investment opportunity in a prime Glen Iris location, literally on the cusp of Malvern, this entire apartment complex on one title offers investors and developers a once-in-a-lifetime chance to secure this property and over time re-imagine its potential.<br/><br/>With secure tenants in place, situated on a prime elevated position on 781 sqm (approx.) this complex holds the promise of a luxurious transformation, poised to accommodate brand-new upscale apartments or townhouses or alternatively, the opportunity to sit back and receive a strong rental return from this quality blue chip offering. <br/><br/>Comprising: 5 x 2 bedrooms renovated apartments and 1 x 1 renovated bedroom apartments with each unit providing modernity and comfort. A thoughtfully designed living, kitchen, and meals area creates a harmonious living space for each unit. Convenience is paramount, with designated parking provided for every apartment.<br/><br/>The meticulously maintained apartment complex boasts proximity to Viva Street Reserve, Malvern Gardens, and Central Park all within walking distance, offering serene retreats and ensuring a green escape nearby. Seamless access to public transport with trams on nearby High Street and trains from either Tooronga or Malvern stations, along with easy access to Goodlife gym, Harold Holt swimming pool, Horace Café and Jack's House café along with close proximity to Glenferrie Road Malvern shopping precinct and all within close accessibility to the M1 and leading schools such as Mavlern Central School and Auburn High School just moments away. <br/><br/>This property beckons visionary developers to shape a legacy, crafting living spaces that encapsulate sophistication and urban living. A confluence of luxury, convenience, and potential, this opportunity invites inspection and the chance to redefine modern living. Alternatively, investors can park their capital here guaranteed regular recurring income at a strong rate, currently $130,000 per annum with rental increases forecast, together with strong capital growth over the journey for a property located so close to excellent infrastructure and amenities that Glen Iris and Malvern are so famous for.<br/>