106/377 Nepean HighwayFrankston VIC 3199
Property Details for 106/377 Nepean Hwy, Frankston
106/377 Nepean Hwy, Frankston is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2005. The property has a land size of 3870m2 and floor size of 52m2. While the property is not currently for sale or for rent, it was last sold in November 2014.
Last Listing description (January 2015)
A great opportunity to secure a high cash flow investment in a thriving bayside community at the gateway
to the Mornington Peninsula.
With ongoing developments to the foreshore and the completion of East link, Frankston has become a hot spot for investors.
A spacious 1 bedroom apartment with open plan kitchen, meals and family room.
Private outdoor terrace, semi ensuite to master and built in laundry.
Recently refurbished with new carpet and paint, this immaculate apartment has secure tenancy until
2020 with indexed annual increases to the rent every year until 2020!
The apartment includes an undercover car park on title, and inground pool on premises.
With solid long term growth prospects this property will offer a sound Investment for astute investors.
HIGH YIELD, GREAT LOCATION, BRICKS & MORTAR ASSET
Rent increases as set below:
April 2015- $17,014 - Return 6.54 %
April 2016 - $17, 695 - Return 6.81 %
April 2017 - $18, 403 - Return 7.08 %
April 2018- $ 19, 139 - Return 7.36 %
April 2019- $ 19, 904 - Return 7.66 %
Lease Terms- 11/04/2014- 11/04/2020
with 3 x 5 year terms options remaining.
Outgoings:
Council Rates: $1360 p/a
Water Rates: $ 600 p/a (approx)
Sinking Fund: $ 285 per annum.
Property History for 106/377 Nepean Hwy, Frankston, VIC 3199
- 19 Nov 2014Sold for $259,800
- 22 Oct 2014Listed for Sale 259800
- 27 Sep 2007Sold for $244,500
Recent sales nearby
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About Frankston 3199
The size of Frankston is approximately 19.8 square kilometres. It has 72 parks covering nearly 21.2% of total area. The population of Frankston in 2016 was 36097 people. By 2021 the population was 37331 showing a population growth of 3.4% in the area during that time. The predominant age group in Frankston is 30-39 years. Households in Frankston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Frankston work in a professional occupation.In 2021, 58.30% of the homes in Frankston were owner-occupied compared with 56.80% in 2016.
Frankston has 21,756 properties. Over the last 5 years, Houses in Frankston have seen a 37.92% increase in median value, while Units have seen a 37.00% increase. As at 31 January 2026:
- The median value for Houses in Frankston is $874,464 while the median value for Units is $593,610.
- Houses have a median rent of $580 while Units have a median rent of $490.
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