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15 Walter Street, Cranbourne, Vic 3977 For Sale
15 Walter Street, Cranbourne, Vic 3977 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Image 15 Walter Street, Cranbourne, Vic 3977-Floorplan

15 Walter Street, Cranbourne, Vic 3977

$1,150,000 - $1,250,000

Unit
Type
7
Bedrooms
3
Bathrooms
3
Parkings
867 m²
Area

Published on Wednesday, July 15, 2026 ( See property details for 15 Walter Street, Cranbourne, Vic 3977)

$1,150,000 - $1,250,000

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

A rare investment opportunity in central Cranbourne offering three units on a substantial land parcel with strong rental income and development potential.

🏡 Property Highlights

  • Three units on one title generating approximately $68,100 per annum
  • Substantial 862m² allotment within the Residential Growth Zone – Schedule 2 (RGZ2)
  • Potential to subdivide or redevelop (STCA) for future growth
  • Prime central Cranbourne location close to shopping, transport, and schools
  • Exceptional land banking opportunity with strong rental income
  • First time offered in 44 years, offering rare investment prospects

✨ Key Features

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

Cranbourne is a vibrant suburb renowned for its strong growth, excellent amenities, and convenient access to transport and education. It offers a thriving community atmosphere, proximity to shopping centres and parks, and significant future development prospects, making it an ideal location for investors and families alike.

What is the current rental income and potential for future rent increases?
The current rental income is approximately $68,100 per annum, with potential for future rent increases depending on market conditions and improvements.
What are the zoning and development restrictions for this property?
The property is zoned Residential Growth Zone – Schedule 2 (RGZ2), with potential to subdivide or redevelop subject to council approval (STCA).
Are there any known planning or building restrictions on the land?
Development is subject to council approval, and any restrictions or easements should be verified with local planning authorities.
What are the nearby amenities and transport options?
The property is within walking distance to Cranbourne Park Shopping Centre, High Street shopping precinct, cafés, medical facilities, public transport, and Cranbourne Train Station.
Is there potential for future land value appreciation?
Yes, given its location within a high-demand growth zone and the potential for subdivision or redevelopment, future land value is expected to appreciate.
Are there any existing planning or building approvals for subdivision or redevelopment? Are there any easements, covenants, or restrictions on the land that could affect development plans? What are the council rates and any additional costs associated with the property? Are there any upcoming infrastructure projects or zoning changes in the area? Has the property been affected by any flooding or bushfire risks in the past? Are there any strata or body corporate fees applicable to the units? What is the condition of the existing structures and are there any known defects? Are there any planned or ongoing nearby construction activities that could impact the property? What are the terms of the current leases, and are there any lease renewal considerations? Is there any history of pest or environmental issues on the property?

15 Walter Street, Cranbourne, Vic 3977 - More Details

$1,150,000 - $1,250,000

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
• Three units on one title
• Returning approximately $68,100 per annum
• 862m² (approx.) allotment
• Residential Growth Zone – Schedule 2 (RGZ2)
• Potential to subdivide or redevelop (STCA)
• Exceptional land banking opportunity with strong holding income
• High-demand central Cranbourne location

Unit 1
• 2 spacious bedrooms
• Central bathroom
• Kitchen with adjoining meals area
• Spacious living room
• Car space
• Currently leased at $1,520 PCM

Unit 2
• 2 spacious bedrooms
• Central bathroom
• Kitchen with adjoining meals area
• Spacious living room
• Car space
• Currently leased at $1,773 PCM

Unit 3
• 3 spacious bedrooms
• Huge kitchen with meals area
• Two bathrooms
• Open-plan living area
• Lock up single garage
• Proposed rental return of $2,383 PCM

Total Rental Return: Approximately $68,100 per annum
Approximate Gross Rental Yield: 5.66%

Prime Central Location
Perfectly 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 Box
Properties 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.
Type
Unit
Bedrooms
7
Bathrooms
3
Parkings
3
Area
867 m²

Price guide

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