Finding Great Buys in Altona

Finding Great Buys in Altona

6/20 Hancock Street, Altona
Photo: jmre

With a budget of only $300,000, it was my goal to find a good investment property within 13km of the city.

I was also looking for something on a serviced rail line, near a vibrant cafe strip. You could say I had my work cut out for me.

My clients were particularly keen to see if I could come up with something seaside… and that I did.

I travelled west to Altona – just 13km from the city and only nine rail stations from Southern Cross. Altona features a fantastic local Main Street (Pier Street) which is home to some great existing and emerging cafes.

Altona Offers Ample Accessibility

On top of this, Altona provides a great array of cycling and walking tracks, a friendly beach and proximity to shopping centres. Its well-integrated bus lines and railway systems offer easy access around Melbourne.

“Altona is growing, changing and re-gentrifying for all of the right reasons.”

What I love most about Altona is the walkability it offers its residents. A stroll along the beach, a bike ride into Williamstown, a coffee at Creme or one of the other cafes on Pier Street, and fish and chips on the shore are activities at everyone’s fingertips.

Altona might be the poor cousin to popular Williamstown for now, but it has its own identity and offers great buying for home owners and investors alike.

20 Hancock Street, Altona

The property boasted spacious bedrooms and a modern living area – perfect for young tenants
Photo: jmre

Boutique Two Bedroom Unit Just a Walk From the Beach

This boutique two bedroom unit is one of just six and it’s located within walking distance of the beach, shops and station.

It is currently rented for $270 per week to stable, long-term tenants and is yielding my investors a gross rental return of 4.7 per cent – a very strong figure when compared to Melbourne rental returns.  

“Altona might be the poor cousin to popular Williamstown for now, but it has its own identity.”

Altona is growing, changing and re-gentrifying for all of the right reasons. Young families love the close proximity to town, the relative affordability when compared to the inner west, and the infrastructure that Altona offers.

Tenants in the area are stable and vacancy rates are tight. Altona is one to watch for 2014!

For more information about Altona, read our suburb profile here.

salesandgrowthchartaltona

Points of Interest in Altona, Postcode 3018

Altona Primary School
Altona Gate
Altona Sports Club
Hobsons Bay City Council

About the Author

Cate Bakos is an independent buyers advocate and qualified property investment advisor and has proudly been a property investor for 17 years. Cate has a Bachelor Degree in Chemistry (Hons), Certificate 4 in Property Services (Real Estate), a Certificate 4 in Financial Services (Mortgage Broking). She is also a licensed real estate and a Qualified Property Investment Advisor accredited by Property Investment Professionals of Australia (PIPA).

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