31 Albert Street, Ararat, VIC 3377 sold on 21 May 2025 | OnTheHouse
SOLD
Sold on 21 May 2025 for $645,000

31 Albert Street
Ararat VIC 3377

Bedrooms: 8
Bathrooms: 2
Car spaces: 2
Land area: 2012m2
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Property Details for 31 Albert St, Ararat

31 Albert St, Ararat is a 8 bedroom, 2 bathroom House with 2 parking spaces. The property has a land size of 2012m2. While the property is not currently for sale or for rent, it was last sold in May 2025. There are other 8 bedroom House sold in Ararat in the last 12 months.

Building Type
House
Land Size
2012m2

Last Listing description (May 2025)

Sale By Fixed Date - Friday 9th May, 2025 at 12pm (Unless sold prior). Indicative buyer range $690,000-$710,000.
Investors and developers, this is the opportunity you've been waiting for. Situated on a massive 2,012 sq.m (½ acre) corner block with two street frontages and lane access, this property offers both immediate returns and enormous development potential.
Currently leased until August 2025, the existing 7-8 bedroom brick home is generating a strong rental return of $1,050 per week ($54,600 per year), providing a secure income stream from day one. But the real value lies in the approved planning permit for further development, allowing for the construction of a 12-room workers' accommodation complex. Each bedroom is designed with a private bathroom, while shared kitchen and living areas create a highly functional communal space.

With an expected rental return of $190 per week per bedroom, full occupancy would generate an additional $2,280 per week ($118,560 per year). Combined with the existing lease, this equates to a potential annual income of $173,160-a rare and lucrative opportunity in today's market.
The existing home is well-suited to large families or shared living arrangements, featuring two spacious living areas, two bathrooms (one recently updated), and a well-equipped kitchen with ample storage, generous bench space, and a 900mm gas stove. Outdoor amenities include a covered BBQ area, a double garage, a large workshop shed, and a high-clearance carport-perfect for additional storage or parking.
With strong rental returns, a sought-after location, and an approved permit for high-demand accommodation, this property is primed for substantial growth and profitability. Don't miss this chance to capitalize on a high-yield investment-act now to secure this exceptional development opportunity.

Property History for 31 Albert St, Ararat, VIC 3377

A timeline of how this property has performed in the market
Last Sold
$645,000
21 May 2025
Listed for Rent
15 Jul 2020
  • 15 May 2025
    Sold for $645,000
  • 07 Apr 2025
    Listed for Sale IBR: $690,000 - $710,000
  • 07 Feb 2020
    Listed for Rent - Price not available
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About Ararat 3377

The size of Ararat is approximately 161.2 square kilometres. It has 25 parks covering nearly 14.9% of total area. The population of Ararat in 2016 was 8297 people. By 2021 the population was 8500 showing a population growth of 2.4% in the area during that time. The predominant age group in Ararat is 50-59 years. Households in Ararat are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Ararat work in a community and personal service occupation.In 2021, 69.70% of the homes in Ararat were owner-occupied compared with 68.10% in 2016.

Ararat has 4,956 properties. Over the last 5 years, Houses in Ararat have seen a 54.14% increase in median value, while Units have seen a 26.10% increase. As at 31 January 2026:

  • The median value for Houses in Ararat is $400,979 while the median value for Units is $267,240.
  • Houses have a median rent of $390 while Units have a median rent of $350.
There are currently 47 properties listed for sale, and 12 properties listed for rent in Ararat on OnTheHouse. According to Cotality's data, 242 properties were sold in the past 12 months in Ararat.

Suburb Insights for Ararat 3377

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Adam Walker
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Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.