251-253 Koroit StreetWarrnambool VIC 3280
Property Details for 251-253 Koroit St, Warrnambool
Last Listing description (November 2021)
Phone enquiries - please quote property ID 14753
Redwood Manor Motel Apartments is now for sale and available on a WIWO basis, which includes the COMMERCIAL FREEHOLD asset.
The property is ideally located just two blocks from Warrnambool's central business district on Koroit Street. Redwood Manor Motel Apartments offers the ideal commercial, residential and lifestyle opportunity, all in one.
Situated on a prime 1137m2 parcel of land, the property comprises motel apartments and suites along with a spacious 3 bedroom owner's/manager's residence. The property has recently been fully renovations and the has with nothing to spend.
Located on the Great Ocean Road, in the largest regional city in Western Victoria, the business attracts a diverse mix of business, tourist and family clientele and delivers an excellent year round cash flow.
The property is currently owner operated by a single person, with casual staff in peak periods. Purchase and operate this business for an above average net profit or purchase the freehold and sell the lease, with excellent annual rental returns guaranteed. Alternatively new owner may wish to outsource the management and keep the profits of the business.
Enquire today, to fully appreciate the unique aspects of this high yielding property/business.
DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian 'For Sale By Owner' website operating since 1999. We proudly assist commercial property owners who are looking to sell or lease their own commercial property without paying any real estate commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.
Property History for 251-253 Koroit St, Warrnambool, VIC 3280
- 16 Dec 2015Sold for $700,000
- 29 May 2014Listed for Sale $1,150,000 NEGOTIABLE
- 07 Dec 2013Listed for Sale $1,195,000 WIWO
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About Warrnambool 3280
The size of Warrnambool is approximately 65.1 square kilometres. It has 76 parks covering nearly 6.4% of total area. The population of Warrnambool in 2016 was 29661 people. By 2021 the population was 31308 showing a population growth of 5.6% in the area during that time. The predominant age group in Warrnambool is 60-69 years. Households in Warrnambool are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Warrnambool work in a professional occupation.In 2021, 67.10% of the homes in Warrnambool were owner-occupied compared with 63.70% in 2016.
Warrnambool has 19,825 properties. Over the last 5 years, Houses in Warrnambool have seen a 45.46% increase in median value, while Units have seen a 24.82% increase. As at 31 March 2026:
- The median value for Houses in Warrnambool is $686,827 while the median value for Units is $444,586.
- Houses have a median rent of $600 while Units have a median rent of $450.
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