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 Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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