225 Melville RoadPascoe Vale South VIC 3044
Property Details for 225 Melville Rd, Pascoe Vale South
Last Listing description (March 2021)
Rear access and on-site parking
3 x 3 x 3 Year Lease Agreement
Rental $38,192.00 per Annum
Rendina Real Estate is pleased to offer a secure hospitality investment with dwelling.
225 Melville Road, Pascoe Vale South is a pure investment opportunity in the Bell St and Melville Rd precinct. The property is conveniently located at a walking distance to the tram number 58 city bound tram line, as well as to adjoining local businesses.
The property is occupied by Pizza Locale Shop 225, tackling a new, fresh approach to the local Pascoe Vale South culture. We are excited to announce that Pizza Locale have committed to a 3 x3 x 3 year lease agreement, with a net return of $38,192 per annum plus GST and outgoings. In operation since 2015, Pizza Locale has proven to be a strong and thriving business.
Should you require any further information, please contact Rendina Real Estate on 9381 6500.
** COVID-19 Announcement **
If you're attending an open for inspection, we request that you only attend if you are fit and healthy to do so and not under any self-isolation conditions. We request that you maintain a healthy distance from anyone attending the open for inspection, including other prospective buyers and our team members, and if requested wait outside so as to reduce the number of people in the property at any one time. Lastly, please refrain from touching items/fixtures and doors within the properties. If you would like to view something in particular, please request the agent's assistance.
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Property History for 225 Melville Rd, Pascoe Vale South, VIC 3044
- 26 Feb 2021Sold for $850,000
- 14 Jan 2021Listed for Sale Auction Fri 26th Feb 11:00am - $850,000 - $900,000
- 29 Apr 2015Listed for Rent $36,000 / year
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About Pascoe Vale South 3044
The size of Pascoe Vale South is approximately 3.1 square kilometres. There are 10 parks, covering nearly 5.2% of the total area. The population of Pascoe Vale South in 2016 was 10069 people. By 2021 the population was 10534 showing a population growth of 4.6% in the area during that time. The predominant age group in Pascoe Vale South is 40-49 years. Households in Pascoe Vale South are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Pascoe Vale South work in a professional occupation.In 2021, 74.40% of the homes in Pascoe Vale South were owner-occupied compared with 76.60% in 2016.
Pascoe Vale South has 4,932 properties. Over the last 5 years, Houses in Pascoe Vale South have seen a -3.02% decrease in median value, while Units have seen a 7.77% increase. As at 31 July 2026:
- The median value for Houses in Pascoe Vale South is $1,193,497 while the median value for Units is $680,023.
- Houses have a median rent of $723 while Units have a median rent of $550.
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