5 Joami Street, Cheltenham VIC 3192

For Sale

5 Joami Street, Cheltenham VIC 3192-Floorplan

House

Type

Bedrooms

Bathrooms

Parkings

Last updated on Tuesday, April 14, 2026 ( See property details for 5 Joami Street, Cheltenham VIC 3192)

$1,350,000

Angela Limanis - Real Estate Agent - Ray White - Cheltenham

Angela Limanis Sales Consultant & Auctioneer

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Paul Allica - Real Estate Agent - Ray White - Cheltenham

Paul Allica Executive Assistant to Lauren Chambers

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AI Property Insight

AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A versatile double brick property on a generous corner block offering immediate rental income, development potential, and flexible living options in a prime Cheltenham location.

🏡 Property Highlights

Versatile double brick property on a spacious 672sqm corner block
Currently generating a strong rental income of $2,700 per week
Separate self-contained lower level with two bedrooms, ideal for ongoing rentals
Potential to develop up to three townhouses (STCA) in a sought-after location
Excellent investment or development opportunity with existing income covering holding costs
Prime position close to transport, schools, cafes, and Southland Shopping Centre

✨ Key Features

Garage
Outdoor Area
Built-in Robes
Open-Plan Living
Ensuite
Waterfront / Views
Security Screens / Gates
Fly Screens
NBN / High-Speed Ready
Extra Storage (Shed/Linen)

Suburb and Property Insights of Cheltenham, VIC 3192

Cheltenham is a vibrant suburb renowned for its excellent schools, convenient transport links, and proximity to Southland Shopping Centre. It offers a balanced lifestyle with access to parks, cafes, and community amenities. The area is highly sought after for both its growth potential and family-friendly environment. With ongoing development and strong rental demand, Cheltenham presents a compelling opportunity for investors and homeowners alike.

Frequently Asked Questions

What are the current rental terms and lease agreements?

The property is fully leased under formal agreements, generating $2,700 per week, with rental income covering holding costs.

Can the property be converted into a family home?

Yes, the property can be modified into a stylish family residence, offering flexible living options.

Is there potential for further development or subdivision?

Yes, subject to council approval (STCA), the site can accommodate up to three townhouses, leveraging its wide frontage.

What amenities are nearby?

The property is close to bus stops, cafes, primary and secondary schools, and Southland Shopping Centre, providing excellent convenience.

What are the features of the self-contained lower level?

The lower level includes two bedrooms, a living/dining area, kitchen/laundry, and a bright bathroom, suitable for rental or family use.

What to ask about this property to agent?

Are there any zoning restrictions or easements affecting the development potential of the site? What are the total holding costs, including council rates and maintenance? Are there any existing defects or repairs needed for the property? Has the property been affected by flooding or bushfire risks? Are there any upcoming planning or construction activities nearby that could impact the property?

5 Joami Street, Cheltenham VIC 3192 - More Details

$160,000 Rental Income Corner Development Site

Type: House
Bedrooms: 9
Bathrooms: 4
Parkings: 6
Area: 0.0

5 Joami Street, Cheltenham VIC 3192 - Point Of Interest

Locate Near By Places of 5 Joami Street, Cheltenham VIC 3192 On Map

Your Commute at a Glance: 5 Joami Street, Cheltenham VIC 3192

Email Enquiry To Ray White - Cheltenham

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Angela Limanis

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Paul Allica

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5 Joami Street, Cheltenham VIC 3192

$1,350,000

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