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220/435 Nepean Highway, Frankston$240,000

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For Saleapartment

220/435 Nepean Highway

Frankston, VIC 3199, Australia

$230,000 – $250,000

1 bed 1 bath

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Listing description

About this property

A 'Set & Forget' investment. Situated on the 2rd floor of the outstanding 'PENINSULA ON THE BAY' building, only minutes' walk to the Award winning beach of Frankston, an array of quality restaurants and at the gateway of the beautiful Mornington Peninsula. • Currently tenanted to Quest Apartments (term 5x5x5 years) • Rent approx. $13,400 p.a. (approx. $260pw) • Fully furnished including cutlery & crockery. • Quality Fisher & Paykel appliances • Secure key card entry • Granite bench tops to kitchen • Access to Gym 24/7 • Access to outdoor BBQ & entertaining area

Property Details

Property Type: apartment
Listing Type: For Sale
Bedrooms: 1
Bathrooms: 1
Listed: 3 months ago

Repayment calculator

$1,164/month

$582 /fortnight

Loan $192,000 at 6.10% over 30 years

Upfront costs

Deposit$48,000

Stamp duty$9,470

Conveyancing (est.)$2,000

Total upfront$59,470

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 1-bedroom apartment in Frankston, VIC 3199 sits within reach of public transport, local shops and nearby schools. It is listed 70% below the $799,000 median of 72 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/Young Street (Bay G) (bus) — 327 m away
General Games Frankston — 123 m away
Unnamed — 97 m away
Evelyn Park — 465 m away
Unnamed — 497 m 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 CBD intensification, foreshore revitalisation and infill residential projects. The municipality is pursuing medium-density residential growth near the train station and key activity centres, with concurrent public realm and infrastructure improvements to support population growth. Development is generally constrained by suburban character overlays and coastal/environmental considerations but strategic precinct upgrades are driving incremental change.

Nearby projects

Closest

0.3 km

Frankston Central Activity District - Medium Density Residential

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

Frankston Central Activity District - Medium Density Residential

0.3 km

Residential - Apartment buildingApproved

Multiple approved DAs for 4-6 storey residential apartments in the CBD targeting increased urban density near transport nodes.

2024-2026

300 m

Frankston Foreshore Precinct Activation

0.5 km

Mixed-useUnder construction

Waterfront revitalisation project including public realm improvements, retail/hospitality spaces and pedestrian connectivity along the foreshore.

2025

500 m

Bayside Shopping Centre Precinct Renewal

1.2 km

Mixed-useApproved

Retail and residential mixed-use development anchored by regional shopping centre with potential residential towers.

2025-2027

1.2 km

Frankston South Residential Infill

1.5 km

Residential subdivisionUnder construction

Small-lot subdivision and townhouse development on former industrial and underutilised residential sites in established suburbs.

2024-2025

1.5 km

Kananook Creek Precinct Improvements

2 km

InfrastructureProposed

Urban waterway management and public open space enhancement project as part of broader stormwater and environmental strategy.

2025-2026

2.0 km

Peninsula Link Corridor Activation

3 km

InfrastructureProposed

Transport and land-use planning along major arterial linking Frankston to broader metropolitan corridor.

2026

3.0 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.

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