1,2,3/4 Balfour Avenue, Heathmont, VIC 3135 | House for sale | OnTheHouse
 
FOR SALE
$1,300,000 - $1,400,000

1,2,3/4 Balfour Avenue
Heathmont VIC 3135

Bedrooms: 4
Bathrooms: 3
Car spaces: -
Land area: 1011m2
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Approved Four Townhouse Site with Three Rental Incomes

Set on a substantial 1,011sqm approx. allotment in a highly convenient Heathmont position, this rare offering combines immediate rental income with approved development upside.
Currently set up as three separately leased residences, each with its own kitchen and bathroom, the property returns $4,605 per calendar month, or $55,260 per annum. This provides an attractive income stream from day one, with the flexibility to continue leasing, land bank, or move forward with the approved redevelopment.
The future pathway is already in place, with an approved planning permit and detailed plans for a four townhouse development. The approved scheme has been thoughtfully designed across the site, with two street-facing townhouses and two rear residences, a mix of three and four bedroom layouts, private open space, garaging, dedicated vehicle access and shared driveway arrangements already incorporated into the plans.
With three existing rental incomes, a substantial Heathmont landholding and an approved four townhouse development, the property offers immediate return, long term flexibility and clear future upside.
Positioned close to Great Ryrie Primary School, Aquinas College, Jubilee Park, Aquanation, Heathmont Village, Heathmont Station, Eastland Shopping Centre, EastLink, Tintern Grammar and Ringwood Secondary College, the location adds further strength for both tenants and future buyers.
A rare Heathmont opportunity offering scale, income and approved future potential.
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Property Details for 1,2,3/4 Balfour Ave, Heathmont, VIC 3135

123/4 Balfour Ave Heathmont VIC 3135 is a 4 bedroom, 3 bathroom House. The property has a land size of 1011m2. The place is currently for sale with Barry Plant Heathmont & Ringwood.

Building Type
House
Land Size
1011m2
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About Heathmont 3135

The size of Heathmont is approximately 4.4 square kilometres. There are 17 parks, covering nearly 9.3% of the total area. The population of Heathmont in 2016 was 9688 people. By 2021 the population was 9933 showing a population growth of 2.5% in the area during that time. The predominant age group in Heathmont is 40-49 years. Households in Heathmont are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Heathmont work in a professional occupation.In 2021, 80.50% of the homes in Heathmont were owner-occupied compared with 79.90% in 2016.

Heathmont has 4,504 properties. Over the last 5 years, Houses in Heathmont have seen a -7.06% decrease in median value, while Units have seen a 10.91% increase. As at 31 July 2026:

  • The median value for Houses in Heathmont is $1,003,832 while the median value for Units is $816,440.
  • Houses have a median rent of $650 while Units have a median rent of $580.
There are currently 14 properties listed for sale, and 3 properties listed for rent in Heathmont on OnTheHouse. According to Cotality's data, 160 properties were sold in the past 12 months in Heathmont.

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Marcus Lim
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Will Marie
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Barry Plant Heathmont & Ringwood
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