1/75 Frankston-Flinders Road Frankston VIC 3199

Ground-floor flat | fully renovated | walking distance to hospitals and Monash | 788m² lot with one open car space | no overlays. This property offers a rare combination in the Frankston market: a ground-floor, fully renovated flat on a substantial 788m² lot, positioned metres from both public and private hospitals and Monash University. For a buyer, the renovation removes immediate capital outlay, while the lot size suggests potential for future subdivision or development, subject to council approval. The absence of bushfire, flood, or heritage overlays simplifies due diligence. This unit best serves an investor seeking strong rental demand from healthcare and university tenants, or a buyer with a medium-term view to unlock land value. The primary risk is the flat’s strata title on a large block, which may complicate redevelopment and limit financing options for some buyers. The single open car space could be a constraint for owner-occupiers. Rental yield, at a midpoint of $460 per week, is moderate for the area. The opportunity lies in holding the property for rental income while monitoring zoning changes or a future strata subdivision. Use this property as a low-maintenance, centrally located base with a land-backed upside.