Box Hill South: 13 out of 21 apartments going under the hammer
A rare opportunity to get into the Box Hill South market is here with 13 apartments in the one complex up for sale.
Owner occupiers and investors are eager to put their hands up for the mix of tenanted and vacant apartments in the 21-apartment development.
The apartments, which are owned by a company that has gone into receivership, are listed for sale separately.
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Lindellas Box Hill director Dennis Dellas will be calling all 13 auctions in a row on July 23 at noon.
“It is rare, in my 21 years of real estate and calling 1575 auctions I haven’t had this before, I think the most is three consecutive units in a row,” Mr Dellas said.
“It is a great opportunity for owner occupiers and investors.”
He said the location close to Deakin University and Box Hill High School was attracting a lot of buyers.
“The owner occupiers are looking for their children. I had three dads come through looking for their sons,” he said.
“There are also great returns for investors.”
Five of the apartments are vacant and eight are tenanted.
A two-bedroom apartment, No. 9, is vacant with price hopes of $365,000-$400,000 and a potential rental income of $375-$395 per week.
Leased two-bedroom apartments 3, 17 and 24, are also for sale for $365,000-$400,000 and are leased for $400-$440 per week.
The two three-bedroom penthouse apartments, 25 and 26, are for sale for $470,000-$515,000 and are leased at $515 and $495 per week, respectively.
A one-bedroom studio, No. 19, is vacant, has price hopes of $180,000-$198,000 and could return $275-$295 per week.
Six three-bedroom apartments are for sale for $460,000-$500,000. No. 4, 5 and 16 are vacant and 2, 12 and 15 are leased. Rental income is $485-$515 per week.
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All the apartments include one car space.
The auctions will take place at the Lindellas office.