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1/10 Parer Street, Frankston$575,000
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For Saleapartment

1/10 Parer Street

Frankston, VIC 3199, Australia
$550,000 – $600,000
2 bed 1 bath 1 car223 m²

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Listing description

About this property

Positioned at the front of just two and offering the rare bonus of no body corporate, this exceptionally neat and well-maintained unit delivers low-maintenance living in a location that truly does the heavy lifting. Comprising two comfortable bedrooms, a central bathroom, and a secure lock-up garage, the home is perfectly suited to downsizers seeking simplicity, first home buyers entering the market, or investors chasing a smart, set-and-forget addition to their portfolio. The interior presents beautifully, with a sense of order and care that makes moving in or leasing out feel refreshingly straightforward. Currently tenanted on a month to month basis at $400 per week, it offers immediate return with future flexibility. Step outside and you're only a short stroll to Beach Street shops, where cafés, essentials, and a touch of seaside charm are always within reach. And of course, the beach itself is close enough to become part of your daily rhythm. A tidy package in a tightly held pocket, this is easy living with a coastal heartbeat.

Property Details

Property Type
apartment
Listing Type
For Sale
Bedrooms
2
Bathrooms
1
Parking
1
Land Area
223 m²
Listed
2 months ago

Repayment calculator

$2,788/month
$1,394 /fortnight
Loan $460,000 at 6.10% over 30 years

Upfront costs

Deposit$115,000
Stamp duty$29,570
Conveyancing (est.)$2,000
Total upfront$146,570
Verify with VIC revenue office →
Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Frankston

This 2-bedroom apartment in Frankston, VIC 3199 sits within reach of public transport, local shops and nearby schools. It is listed 30% below the $822,500 median of 54 comparable apartmentswithin 5 km.

Schools near Frankston

  • Frankston Special Developmental Schoolcombined · U · CoEd
  • Ballam Park Primary Schoolprimary · Prep-6 · CoEd
  • Frankston East Primary Schoolprimary · Prep-6 · CoEd
  • Frankston Heights Primary Schoolprimary · Prep-6 · CoEd
  • Frankston Primary Schoolprimary · Prep-6 · CoEd
  • Karingal Heights Primary Schoolprimary · Prep-6 · CoEd

What's nearby

  • Frankston Station, platform 2 (train)1.2 km away
  • Tyrepower1.0 km away
  • Unnamed660 m away
  • Wingham Park1.1 km away
  • Orwil Street Reserve1.1 km away

Frankston at a glance

Full suburb profile
Population
37,331
Median age
39
Household income
$1,387/wk
Median rent
$342/wk
Median mortgage
$1,733/mo

Source: ABS Census.

Due diligence

Property Report

Future Development

Complete

Frankston is experiencing moderate development activity focused on waterfront renewal, CBD intensification and suburban infill, supported by rail accessibility and healthcare investment. The municipality is pursuing housing diversity within established precincts whilst managing heritage considerations in the central business district. Key drivers include population growth in the southern corridor, state government infrastructure funding and strategic planning for urban consolidation.

Nearby projects

6

Closest

0 km

Frankston CBD Heritage & Housing DA

1.3km2.5km3.8km5kmFrankston CBD Heritage & Housing DA — 0.0 kmFrankston Railway Station Precinct Upgrade — 0.2 kmFrankston Waterfront Precinct Redevelopment — 0.5 kmFrankston Hospital Expansion DA — 2.0 kmKaringal Estate Infill Development — 2.5 kmSeaford Heights Residential Estate Extension — 4.0 km

Distance from this property is exact (rings = km). Direction is illustrative.

Frankston CBD Heritage & Housing DA

0 km
Residential apartment buildingApproved

Multi-storey residential development incorporating heritage façade retention in central Frankston.

0 m

Frankston Railway Station Precinct Upgrade

0.2 km
InfrastructureUnder construction

Station accessibility and interchange improvements as part of broader Victorian rail modernisation.

200 m

Frankston Waterfront Precinct Redevelopment

0.5 km
Mixed-useProposed

Long-planned waterfront renewal involving residential, retail and public realm improvements along the foreshore.

500 m

Frankston Hospital Expansion DA

2 km
InfrastructureProposed

Healthcare facility expansion and redevelopment to support growing regional demand.

2.0 km

Karingal Estate Infill Development

2.5 km
Residential subdivisionUnder construction

Medium-density housing infill project on surplus public land near Karingal shopping precinct.

2.5 km

Seaford Heights Residential Estate Extension

4 km
Residential subdivisionApproved

New stage of established estate development with standard residential lots and supporting services.

4.0 km
Source: StMate AI — VIC development trends06/05/2026
Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

Suburb market

Suburb price trend

Frankston price trend

Median sold · Unit 2 bed

Compound growth +3.9% / yr over 4 yrs

$575kcurrent median

Suburb-wide medians from sold listings — a guide to the area, not this specific property.

Full Frankston market

This listing

Price history

Price history

Listing price changes

2 price changes recorded for this property

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Within 5km

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