251 Blackburn Road, Mount Waverley, VIC 3149 | BlockOfUnits for sale | OnTheHouse
FOR SALE
$3,000,000 - $3,300,000

251 Blackburn Road
Mount Waverley VIC 3149

Bedrooms: 5
Bathrooms: 5
Car spaces: 15
Land area: 860m2
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ONE OF THE LAST MAJOR C1Z DEVELOPMENT OPPORTUNITIES IN MOUNT WAVERLEY

Expressions of Interest
Income-Producing Landholding with Significant Future Potential
A scarce opportunity to secure a prime Commercial 1 Zone (C1Z) landholding in the heart of Mount Waverley’s tightly held Syndal precinct, just 200 metres from Syndal Station.
Set on an island site of approx. 860 m², this property combines genuine holding income today with significant redevelopment upside tomorrow.
Currently improved with multiple suites returning a gross income of $141,599 p.a., all leases contain demolition clauses, providing the incoming purchaser with income security while retaining full flexibility to redevelop when ready.
Key Highlights
Land Area: 860 m² * island site
Zoning: Commercial 1 Zone (C1Z) – flexible for retail, medical, office, mixed-use, or apartments (STCA)
Concept Plans: Preliminary designs show scope for 24 to 30 apartments plus café/retail - 5 storeys with 6th floor explored
Location: Prominent Blackburn Road frontage only 200 m from Syndal Station and close to High Street Road, The Glen, Wesley College, and Monash University Clayton
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Property Details for 251 Blackburn Rd, Mount Waverley

251 Blackburn Rd, Mount Waverley is a 5 bedroom, 5 bathroom BlockOfUnits with 15 parking spaces. The property has a land size of 860m2. The place is currently for sale with Scott Banks Real Estate Group.

Building Type
BlockOfUnits
Land Size
860m2
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About Mount Waverley 3149

The size of Mount Waverley is approximately 15.2 square kilometres. There are 41 parks, covering nearly 11.6% of the total area. The population of Mount Waverley in 2016 was 33611 people. By 2021 the population was 35340 showing a population growth of 5.1% in the area during that time. The predominant age group in Mount Waverley is 40-49 years. Households in Mount Waverley are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Mount Waverley work in a professional occupation.In 2021, 73.40% of the homes in Mount Waverley were owner-occupied compared with 74.20% in 2016.

Mount Waverley has 17,910 properties. Over the last 5 years, Houses in Mount Waverley have seen a 7.28% increase in median value, while Units have seen a 7.95% increase. As at 31 May 2026:

  • The median value for Houses in Mount Waverley is $1,628,306 while the median value for Units is $1,077,659.
  • Houses have a median rent of $748 while Units have a median rent of $700.
There are currently 73 properties listed for sale, and 38 properties listed for rent in Mount waverley on OnTheHouse. According to Cotality's data, 693 properties were sold in the past 12 months in Mount waverley.

Suburb Insights for Mount Waverley 3149

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Scott Banks
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Scott Banks Real Estate Group
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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.