406 Park StreetSouth Melbourne VIC 3205
Property Details for 406 Park St, South Melbourne
Last Listing description (March 2021)
Prominently situated on the corner of Montague Street, this distinguished, freestanding solid brick Victorian residence delivers a myriad of rewarding lifestyle and investment opportunities. Currently a seperate three bedroom residence upstairs, with a cafe business occupying the ground level and north-facing courtyard, it is already a superb addition to any investment portfolio for the astute investor to value add and lease out upstairs. Alternatively, it offers exciting future potential to one day combine both premises into one stunning family home with off street parking via rear lane access (STCA).
A host of glorious original features including high ceilings, staircase and Baltic pine floors add rich character to the upper level residence comprising a beautiful living room with open fire and ornate window boxes and a functional kitchen with meals space. There are also three bedrooms, a bright bathroom and Euro-laundry.
Downstairs polished concrete floors flow through the cafe and servery area. A commercial kitchen and large store-room lead out to the sunny private paved north-facing courtyard and the cafes toilet.
Land size 160sqm approx.
Ideal opportunity for the investor / owner occupier.. - long established cafe , prime corner. Securely leased for 3 years from February 2021 at a rent of $50k pa. plus the gst and outgoings. Value add to occupy or invest on level one.
Agent in Conjunction -
Peter Lane 0499 668 801
Lane Commercial
Level 1, 115 Chapel st Prahran
www.lanecommercial.com.au
Property History for 406 Park St, South Melbourne, VIC 3205
- 13 Mar 2021Sold for $2,785,000
- 17 Feb 2021Listed for Sale Contact Agent
- 10 Oct 2018Listed for Rent - Price not available
Recent sales nearby
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0About South Melbourne 3205
The size of South Melbourne is approximately 2.2 square kilometres. It has 15 parks covering nearly 3.3% of total area. The population of South Melbourne in 2016 was 10920 people. By 2021 the population was 11548 showing a population growth of 5.8% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation.In 2021, 42.40% of the homes in South Melbourne were owner-occupied compared with 40.20% in 2016.
South Melbourne has 12,815 properties. Over the last 5 years, Houses in South Melbourne have seen a 7.13% increase in median value, while Units have seen a 3.65% increase. As at 30 April 2026:
- The median value for Houses in South Melbourne is $1,728,942 while the median value for Units is $640,842.
- Houses have a median rent of $840 while Units have a median rent of $670.
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