Property Highlights

1700 sqm north-facing land parcel
Five Art Deco residences on site
Close to Elsternwick Village amenities
Immediate rental income from five homes
Potential for luxury boutique development (STCA)

Overview

Seize an exceptional opportunity to own a sprawling 1700-square metre (approximate title measurements) parcel of land with a coveted north-facing aspect. This extraordinary proposition, on the market for the first time in nearly a century, presents a legacy property held by a single family throughout its history. Encompassing 5 residences, the possibilities are boundless. At number 23, the collection of Art Deco dwellings includes one three-bedroom home, three two-bedroom homes and one single-bedroom home, each with a bathroom. Currently, the comfortably appointed properties offer immediate rental yield, but the true value lies in the exciting development prospects and the capacity for transformation. Envision erecting a modern, luxury boutique complex (STCA), to take full advantage of the prestigious position that's merely steps away from Elsternwick Village, with its train station, tram lines, shops, dining, bars, and Classic Cinemas. Flat 1 $1891.00/mth $22,692.00 pa Flat 2 $2064.00/mth $24,768.00 pa Flat 3 $1874.00/mth $22,488.00 pa Flat 4 $2282.00/mth $27,384.00 pa Flat 5 $2817.00/mth $33,804.00pa TOTAL $131,136.00 pa Whether renovating the current structures or undertaking a comprehensive development, this site is an exceptional canvas for the discerning developer. Such expansive and promising opportunities are exceedingly rare. This is a once-in-a-lifetime invitation to leave an indelible mark and shape the future of an exclusive neighbourhood.

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