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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

Flood Risk

Complete

Medium flood risk

None

Low

Medium

High

Flood zone

Land Subject to Inundation Overlay (LSIO); Yarra River and local drainage basins

Frankston is moderately flood-prone due to its proximity to Port Phillip Bay, coastal drainage systems, and local creek networks (notably Kananook Creek and affiliated waterways). The LSIO applies to significant portions of the suburb, particularly lower-lying areas and properties near drainage lines. Historical and contemporary flood studies by Cardinia Shire and Frankston City Council establish flood risks that trigger standard Victorian planning overlays and building controls.

Planning controls

Development must demonstrate compliance with LSIO provisions and flood-resistant design where applicable
Filling and earthworks are restricted in flood-prone areas to avoid exacerbating downstream flooding
Building permits may require flood impact assessment and finished floor level requirements above the 1% AEP
Stormwater management and detention basins form part of local planning scheme requirements

Source: StMate AI — VIC flood overlays06/05/2026

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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