305 Nepean Highway, Frankston, VIC 3199 | Property Value & History | OnTheHouse
 
OFF MARKET

305 Nepean Highway
Frankston VIC 3199

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Land area: 1366m2
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Property Details for 305 Nepean Hwy, Frankston

305 Nepean Hwy, Frankston is a 1 bedroom, 1 bathroom Unit. The property has a land size of 1366m2.

Building Type
Unit
Land Size
1366m2
Local Government
Frankston
Lot/Plan
2/RP950

Last Listing description (May 2019)

At the gateway to the Mornington Peninsula, Quest Frankston by the Bay is located in the heart of Frankston's central business district and within walking distance to the beach and the entertainment and restaurant precinct.
ONLY 5 YEARS OLD & boasting a total floor area of 52.3m2, an opportunity to secure an water front view.
The apartment is finished with high quality fixtures, split system heating/ cooling and kitchenette featuring stainless steel appliances.

Lease Details
Rent : $401 per week ($20,888 per annum)
Return: 6.84% net- 5.22% Net
Terms: Lease to 14/04/2023 plus 3 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next not due until 2023)
Rent cannot increase or decrease by more than 6% at market review.
Rent Increases as follows: 15th
April 2019- $417 p/w- 7.11% return
April 2020- $434 p/w 7.40% return
April 2021- $451 p/w 7.70% return
April 2022- $469 p/w 8.00% return
Large One bedroom studio, total floor area 52.3m2.
Uninterrupted full bay views from your entire apartment, with spacious living area, balcony and stylish kitchenette & bathroom.
The property also boasts a large communal entertainers terrace- with foreshore/ ocean views, Bayside Shopping Centre at the rear, cafes & restaurants and pristine beaches at your doorstep.
Carpet and Paint refurbishment will be due within the next 6- 18 months
Approximate Owner Outgoings
Council Rates: $1471 pa approx
Water Rates: $680 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $2800 pa approx

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Property History for 305 Nepean Hwy, Frankston, VIC 3199

A timeline of how this property has performed in the market
  • 12 Jul 2018
    Listed for Sale $305,000
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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 21,759 properties. Over the last 5 years, Houses in Frankston have seen a 38.00% increase in median value, while Units have seen a 33.85% increase. As at 31 December 2025:

  • The median value for Houses in Frankston is $863,752 while the median value for Units is $590,364.
  • Houses have a median rent of $575 while Units have a median rent of $490.
There are currently 105 properties listed for sale, and 58 properties listed for rent in Frankston on OnTheHouse. According to Cotality's data, 1157 properties were sold in the past 12 months in Frankston.

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