5 Southey Street
Elwood, VIC 3184

Secure this iconic Art Deco solid-brick apartment group, Esmia c.1935, representing a unique opportunity to acquire a significant holding of five Art Deco apartments under a single title with approximately 432 square meters of land. This property encompasses two individual blocks with two street frontages, directly neighboring the renowned Poet’s Corner group.

The offering includes four two-bedroom apartments and one four-bedroom ground-floor home with a garage, providing diverse accommodation options with individual floorplans. Most apartments feature balcony access, except one, and all showcase a high-quality finish. Each apartment is equipped with a sleek, modern kitchen featuring prestige appliances and a dishwasher, alongside fresh white designer bathrooms. Additional features include reverse-cycle air-conditioning, quality window furnishings, and rich Art Deco detailing throughout.

This property is fully renovated and fully leased, currently generating a stable rental income of $15,822 per calendar month. It offers a multi-generational asset with multiple income streams, presenting excellent investment stability and future potential.

There are multiple options for subdivision, subject to council approval, allowing the property to be structured as five individual apartments, two separate blocks, or retaining one or more apartments for owner-occupation. This flexibility makes it an attractive opportunity for investors or owner-occupiers seeking a prestigious lifestyle location.

Located in one of Elwood’s most sought-after areas, the property boasts grand Art Deco street presence on each frontage. It is conveniently situated around the corner from St Kilda Botanical Gardens and just 500 meters from the Barkly Street and Blessington Street hospitality precinct. The sandy beaches of St Kilda are only a few blocks away, with easy access to The Esplanade, Brighton Road tram, and Balaclava station, offering excellent connectivity and lifestyle amenities.

This rare opportunity combines historical charm, modern comforts, and a prime location, making it a standout investment or lifestyle choice in Elwood.