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419-423 Cardigan Street, Carlton VIC 3053

$5,250,000

A significant stake in Carlton – approx. 578m2 of city fringe land

Behind this distinctive modernist apartment building, a major inner city asset in its own right, lies what is quite possibly the largest piece of vacant land that Carlton has left to offer. Together, the structure and the site represent a spectacular opportunity, in terms of both present day returns and rewarding further potential. Three x 5 bedroom apartments, each occupying its own entire floor, feature bright living/dining areas, an open plan kitchen and a central bathroom. Every room in each apartment opens to an attractive balcony, enhancing the appeal of a property that’s accompanied by off street parking and currently returning approximately $175,000 per annum in gross rental income. Scope to extensively further develop, STCA, promises an impressive future, perfectly positioned between Lygon Street’s retail and restaurants and the University of Melbourne campus. Please note: adjoining terrace at 425 Cardigan Street also available.

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