113/377 Nepean HighwayFrankston VIC 3199
Property Details for 113/377 Nepean Hwy, Frankston
113/377 Nepean Hwy, Frankston is a 3 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 56m2. While the property is not currently for sale or for rent, it was last sold in August 2024.
Last Listing description (October 2024)
This extra-large and bright one bedroom apartment offers a long term lease, a high 8.5% return and reduced outgoings.
*** PLEASE NOTE: THIS PROPERTY IS SUBJECT TO A LONG TERM LEASE AND IS FOR INVESTORS ONLY ***
Quietly positioned at the rear of the complex the elevated ground floor location offers a leafy garden aspect to the reserve beyond. The apartment boasts high ceilings, a huge living/dining area opening to the garden terrace, excellent natural light and a fully equipped kitchen complete with quality appliances plus reverse cycle air-conditioning. The generous king sized bedroom has built in robes and opens to the a stylish well-appointed bathroom with laundry facilities. The building is superbly maintained and offers modern amenities, including an intercom system, a heated pool, a BBQ area, and dedicated parking on title.
Rental Income: $19,478.14 pa / $375 pw
Rent Increases: Annual 4% increase thereafter each April 11th
Annual Return: 8.5% Gross
Lease Expiry Date: April 10, 2025
Lease Extension Option: 4 x 5 years
Tenant (Quest) outgoings:
Owners Corporation administration fund
Water usage
Insurance
General maintenance
Owners outgoings:
Owners Corporation maintenance fund: $453.75 pa
Council rates: $1,211.95 pa
Water rates (excluding usage): $666.40 pa
While great care has been taken in assembling the information presented above, it is important to emphasise that these details are provided for informational purposes only and should not be considered as representations by the Owner or the Agent.
Please contact Martin Russell on 0417 005 302 to arrange an inspection.
Property History for 113/377 Nepean Hwy, Frankston, VIC 3199
- 23 Aug 2024Sold for $220,000
- 08 Jun 2024Listed for Sale $229,000
- 07 Jan 2015Listed for Sale $275,000
Recent sales nearby
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0About 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 21,757 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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