The rooming house at 38-40 Park St, St Kilda West has been listed with a $5.2m-$5.7m price tag.
An opportunity to take over or redevelop one of the last standing St Kilda rooming houses has arisen.
The owner-operator of 38-40 Park St in St Kilda West bought the building nearly 50 years ago in 1973 and has managed the 21 boarding rooms ever since.
Kay & Burton South Yarra partner Grant Samuel said it also operated as a rooming house for a number of years prior to the vendor’s purchase.
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An aerial view of the rooming house.
St Kilda’s iconic Gatwick Hotel, which was converted from a drug-ridden rooming house into an opulent apartment building on hit TV show, The Block, is close by.
While its construction date is unknown, it is believed to have been built in the Victorian era circa 1800s.
The listing does not contain any interior shots, but the facade appears in worn but well-maintained condition, with remains of a terrace evident under the upper-level windows at the front.
In addition to the 21 rooms, three kitchens, three kitchenettes, three communal bathrooms and one communal laundry can be found inside.
“The longest serving occupant has been there for 20 years,” Mr Samuel said.
He added that he had received inquiries from both people who wanted to continue operating the building as a rooming house, as well as those wanting to redevelop the block.
The impending sale comes just a few years after a number of St Kilda flophouses were shut down as they became hubs for drug deals, prostitution and fights, among other issues.
Little Grey St, St. Kilda where flophouse ‘the Beach House’ was shut down in 2018. Picture: Penny Stephens. 22nd Feb 2018.
Also on Little Grey St. Picture: Penny Stephens. 22nd Feb 2018
One of the most significant shutdowns was that of the Gatwick Hotel on Fitzroy St, which sold for a reported $10m in 2017 to hit TV show, The Block.
It underwent a significant renovation on the show, where the run-down housing complex was transformed into a glitzy apartment building.
The top floor penthouse in the 34 Fitzroy St building also hit the market at the end of April this year with a $3.4m-$3.7m price tag.
Mr Samuel and St Kilda Community Housing confirmed there are only a few private rooming houses left in the area.
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emily.holgate@news.com.au
