South Yarra triplex listed with $12.5 million hopes

The Marne Street, South Yarra block comes with a $11.5 million to $12.5 million price guide

South Yarra triplex listed with $12.5 million hopes
South Yarra triplex listed with $12.5 million hopes

A South Yarra triplex has been listed for sale in one line.

The Marne Street comes with a $11.5 million to $12.5 million price guide.

It is for sale through Kay & Burton agent Peter Kudelka who said it was a rare chance to secure a whole block of apartments in the heart of the Botanic Gardens precinct.

Offers are due 12 May.

The marketing seeks buyers who will either iInvest or re-develop.

Its land size is 885 sqm.

Apartment three, a rear one bedroom garden apartment, was up for rent at $350 a week last June.

Apartment one was last advertised in 2012 at $1500 a week.

South Yarra has a $620,000 median price for units that rent for $410 PW with a rental yield of 3.4%. 

Based on five years of sales, South Yarra has seen a compound growth rate of 0.7% for units, according to realestate.com.au.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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