31 Albert StreetArarat VIC 3377
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.
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.
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
- 15 May 2025Sold for $645,000
- 07 Apr 2025Listed for Sale IBR: $690,000 - $710,000
- 07 Feb 2020Listed for Rent - Price not available
Recent sales nearby
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0About 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 4,957 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.
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