Real Estate

rare three in one opportunity up for grabs in yarraville

Written by The ReReport

A RARE combination is up for grabs in Yarraville, with a shopfront, warehouse and charming Federation home for sale as one property.
The unique trio at 173 Stephen St is on one 546sq m title and has a $2.1-$2.3 million price guide.

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The property has a warehouse, house and shop all in one.

Nelson Alexander Flemington agent Jayson Watts said the combination was hard to come by anywhere, let alone in a prime inner-suburban spot.
“It’s very rare to get an opportunity that presents a house, shopfront and warehouse — that ideal situation you can live, work and run a business out of,” he said. “There’s big demand for that in the inner-city market.”

173 Stephen St, YarravilleA pretty period home is part of the trio.

173 Stephen St, YarravillePressed metal ceilings and Baltic pine floors feature inside the house.

Changing work styles and the fact inner-city space was so prized meant properties with work-from-home potential were increasingly in demand, Mr Watts said.

The corner property includes a charming double-fronted Federation house, with pressed metal ceilings and Baltic pine floorboards. “It has a lot of character,” Mr Watts said.
The house has four bedrooms, a study or fifth bedroom, rustic kitchen with Ilve cooker, open-plan living space, and a deck with north-facing courtyard garden.

173 Stephen St, YarravilleA corner shopfront, once a milk bar, is now an attractive workspace with two separate parts.

The shopfront, once a milk bar, retains its classic corner store facade.
Mr Watts said it was near-derelict when the owner purchased the property about five years ago, but now an attractive workspace that could be occupied or rented out, or potentially even converted into a self-contained unit.
The warehouse is as-new and incorporates recycled materials for industrial character. It offers about 190sq m of floor space, plus a bathroom, and could suit the ultimate mancave, a showroom or commercial space.
Mr Watts said the owner had the warehouse purpose built for his construction business but had outgrown the premises.

173 Stephen St, YarravilleA warehouse is also part of the deal.

173 Stephen St, YarravilleThe as-new warehouse comprises recycled elements.

The property could also appeal to investors, Mr Watts said.
“There’s potentially four income streams — the warehouse you could rent out as gym or storage facility,” he said.
“Then the house a traditional income stream as a residential property, and the shopfront is split in two and has two separate entrances.
“It could make anywhere between $110,000 and $130,000 income per annum.”

Easy access to the Westgate Fwy and other major roads as well as Yarraville Station adds to the appeal.
Mr Watts said the property had already attracted interest in its price range and from as far as interstate, and might sell ahead of its December 7 closing date.

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