Kokoda's Q2 Blackburn over 85% sold with remaining apartments reflecting above average yield

Only six apartments remain in Kokoda Property’s Q2 Blackburn development, with apartments reflecting a possible yield of over 4.9%.

Located on Queen Street in Blackburn, the development features designs by Hayball and has appealed to a range of buyers from first home buyers, downsizers and local investors.

“Blackburn is a well-established suburb populated with families who’ve lived here for many years. In some cases the kids have now grown up and are eager to stay in the same location they know and love,” says Sam Tucker sales and marketing manager of Kokoda Property.

“Q2 offers an affordable entry point into this established, blue-chip location, so there’s no need for first home buyers to look outwards to Melbourne’s suburban fringe to purchase their first home.

“Similarly, downsizers who love the area but no longer need all the space of a large, sprawling family home have been buoyed by Q2’s quality interiors and great location,” says Tucker.

Out of the 44 completed apartments, only six remain, with one-bedroom apartments priced from $369,000 to $375,000 and ranging in size from 40 square metres to 44 square metres.

Remaining two-bedroom apartments are priced between $455,000 to $495,000 and range in size from 47 square metres to 59 square metres.

One-bedroom apartments have the potential to receive $350 to $380 per week in rent, representing a 4.9% to 5.2% yield and two-bedroom apartments have the potential to receive $440 to $480 in rent per week, representing a 5% yield.

“With limited apartments available we invite homebuyers to visit Q2’s on-site display apartment at 2 Queen St in Blackburn, to get a true feel for the quality we put into our projects,” says Tucker.

The median unit price in Blackburn is $510,000, a 22.3% change in the past five years, according to RP Data.