1-10/5 Byrne Avenue
Elwood, VIC 3184

Offered for the first time in 97 years, this unique property is located in one of Elwood's most sought-after and tightly held streets. The building comprises 10 spacious, solid brick apartments presented in an older block with a charming facade, offering a rare opportunity to acquire an entire residential holding on a single title in a premier bayside location.

The solidly constructed building features large one-bedroom apartments with additional study or sunroom spaces, neat kitchens, and bathrooms. Each apartment benefits from excellent natural light, contributing to a bright and inviting living environment. The property currently generates immediate rental income of approximately $207,000 per annum, providing a stable cash flow for investors.

There is significant potential for refurbishment and rental growth over time, making this an attractive prospect for long-term investment. The building enjoys a quiet, leafy outlook and is situated just moments from the pristine Elwood Beach and the St Kilda Foreshore on Port Phillip Bay. Residents will appreciate proximity to the Ormond Road village, convenient transport options, parklands, and walking and cycling tracks, enhancing lifestyle and accessibility.

This acquisition is ideal for investors seeking a secure, long-term asset in a proven and desirable location. Further details are available upon request.

Property Features:

• Carport space and storeroom: 1
• Communal laundry spaces: 2
• High-speed NBN available to all units