Curse of The Block? How the other Caroline Street apartments have performed

Apartment number 18 at 85 Caroline Street in South Yarra - better known to the public as the apartment Josh and Charlotte renovated on The Block - was passed in at auction on the weekend.

The apartment, owned by buyer advocate and upcoming Block judge Frank Valentic through his company Advantage Property Consulting on behalf of investor clients, was passed in at $390,000 and sold after auction for $445,000, according to Fairfax reports.

Valentic's company bought entire block of 18 one bedroom apartments at 85 Caroline Street – unrenovated – for $6.35 million in June last year, meaning that each apartment on average cost Valentic and his clients $352,778.

While apartment 18 is the first to sell after The Block renovations, it isn't the first to be offered to residents to live in.

Since the complex was purchased by Advantage Property Consulting (in December 2013, presumably settling in June 2014) half of the apartments have been listed to rent – some of which came with The Block makeovers, prior to the series even coming to air.

Here's how the apartments at 85 Caroline Street have paid off for investors:

• 2/85 Caroline Street:

The apartment renovated by Tim and Anastasia on The Block was advertised to rent on 4 December for $410 per week. It no longer appears on online rental listings, so has presumably been secured by a tenant.
Taking an average price of $352,778, the apartment would yield 6.0% at $410 per week.

• 4/85 Caroline Street:

Advertised to rent at $380 per week in November 2014.
Potential rental yield: 5.6%

• 6/85 Caroline Street:

Advertised to rent at $300 per week in November 2014.
Potential rental yield: 5.6%

• 8/85 Caroline Street:

Advertised to rent at $350 per week in mid-July 2014. By the end of July, the asking rent had been adjusted to $290 per week.
Potential rental yield: 4.2%

• 9/85 Caroline Street:

Advertised to rent at $390 per week in early December 2014. By 24 December, the asking rent had been lowered to $365 per week.
Potential rental yield: 5.7%

• 11/85 Caroline Street:

Advertised to rent at $330 per week in November last year.
Potential rental yield: 4.9%

• 13/85 Caroline Street:

Advertised to rent at $370 per week in October 2014.
Potential rental yield: 5.4%

• 14/85 Caroline Street:

Advertised to rent at $360 per week in December 2014.
Potential rental yield: 5.3%

• 17/85 Caroline Street:

The apartment made over by eliminated contestants Luke and Ebony is currently advertised to rent at $400 per week on Domain, though listed at $395 per week on realestate.com.au.
At $395 per week, it would yield 5.8%.

• 18/85 Caroline Street:

The apartment renovated by remaining contestants Josh and Charlotte. Passed in at auction and sold after auction for $445,000 - a gain of $92,222 or 26%, before taking into account renovation costs.