{"Slug":"unit-15-walter-street-cranbourne-vic-3977","CanonicalUrl":"https://realsearch.com.au/unit-15-walter-street-cranbourne-vic-3977","Address":"15 Walter Street, Cranbourne, Vic 3977","Suburb":"Cranbourne","State":"VIC","Postcode":"3977","PropertyType":"Unit","Status":"Sold","Headline":null,"Description":"First Time Offered in 44 Years!A tightly held investment in one of Cranbourne's most sought-after locations, this outstanding property offers three units on one title, generating a strong rental income of approximately $68,100 per annum, all set on a substantial 862m² (approx.) allotment within the Residential Growth Zone – Schedule 2 (RGZ2).Whether you're an investor seeking immediate cash flow, a developer looking to unlock future potential (STCA), or an SMSF buyer wanting a blue-chip long-term asset, this is an opportunity not to be missed.Investment Highlights•\tThree units on one title•\tReturning approximately $68,100 per annum•\t862m² (approx.) allotment•\tResidential Growth Zone – Schedule 2 (RGZ2)•\tPotential to subdivide or redevelop (STCA)•\tExceptional land banking opportunity with strong holding income•\tHigh-demand central Cranbourne locationUnit 1•\t2 spacious bedrooms•\tCentral bathroom•\tKitchen with adjoining meals area•\tSpacious living room•\tCar space•\tCurrently leased at $1,520 PCMUnit 2•\t2 spacious bedrooms•\tCentral bathroom•\tKitchen with adjoining meals area•\tSpacious living room•\tCar space•\tCurrently leased at $1,773 PCMUnit 3•\t3 spacious bedrooms•\tHuge kitchen with meals area•\tTwo bathrooms•\tOpen-plan living area•\tLock up single garage•\tProposed rental return of $2,383 PCM\tTotal Rental Return: Approximately $68,100 per annumApproximate Gross Rental Yield: 5.66%Prime Central LocationPerfectly positioned within walking distance to Cranbourne Park Shopping Centre, High Street shopping precinct, cafés, medical facilities, public transport and Cranbourne Train Station. Also close to quality schools, including Cranbourne Secondary College, making this an attractive location for both tenants and future purchasers.An Opportunity That Ticks Every BoxProperties of this calibre are incredibly difficult to find. Offering immediate rental income, outstanding development potential (STCA), and a premium growth location, this is a rare chance to secure a high-performing investment with enormous future upside.Invest. Develop. Land Bank. Prosper.For further information or to arrange a private inspection, contact John Lauretta today.","YearBuilt":null,"LandArea":null,"Price":{"Currency":"AUD","Amount":null,"Display":"$1,150,000 - $1,250,000"},"Bedrooms":"7","Bathrooms":"3","Parking":"3","Features":[{"Name":"Bedrooms","Value":"7"},{"Name":"Bathrooms","Value":"3"},{"Name":"Carports","Value":"3"},{"Name":"Area","Value":"867 m²"}],"Inspections":[],"Auctions":[],"TimeZone":"AUS Eastern Standard Time","Latitude":-38.10232824,"Longitude":145.28074623,"Agent":{"Name":"John  Lauretta","CanonicalUrl":"https://realsearch.com.au/agent/john-lauretta"},"Agency":{"Name":"Finning First National - Cranbourne ","CanonicalUrl":"https://realsearch.com.au/agency/finning-first-national-cranbourne"},"CreatedAt":"2026-07-15T10:41:29.8762317","UpdatedAt":"2026-10-06T09:08:28.34"}