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Overview
This exceptional block of four fully renovated apartments in Elwood offers a rare opportunity combining immediate rental income and promising future development potential (STCA). Occupying a substantial 765sqm allotment, the property is thoughtfully arranged within a boutique block that balances modern comforts and the timeless coastal charm characteristic of Elwood living.
Each apartment has been meticulously updated to cater to contemporary lifestyles with low-maintenance appeal, making this an attractive investment for those seeking strong rental performance. The generous land size also presents significant opportunities for developers and land bankers, with concept plans available for townhouse construction, enabling strategic growth in a highly sought-after bayside location.
Located in a quiet, tree-lined street, the property benefits from proximity to Elwood Village's vibrant café culture, public transport, schools, and the foreshore, enhancing its desirability for both tenants and long-term owners aiming for redevelopment. With eight bedrooms, four bathrooms, and four parking spaces across the block, it suits investors targeting family or professional tenants requiring comfortable, well-located accommodation.
- Boutique block of four fully renovated apartments
- Substantial 765sqm landholding with development potential (STCA)
- Prime Elwood location adjacent to parks, schools, and the beach
- Strong immediate rental income and long-term strategic growth opportunities
- Low-maintenance properties that retain Elwood’s timeless charm
In a market where such flexible and sizeable offerings in tightly held Elwood are increasingly rare, 47 Broadway stands as a premier opportunity for a range of buyers, including blue-chip investors, developers, and land-bankers seeking to capitalize on the vibrant Bayside property market.
Local Market Insights
In Elwood, Quiet Listings observed 3 new units entering the market over the last 30 days, up from 2 during the previous 30-day period, with an average advertised asking price of $441,667. The property type mix of listed properties is predominantly Apartments at 58%, followed by houses (28%), and units (8%). The most active agency for units in the Elwood area is currently Win Real Estate, representing 33% of new listings, followed by OBrien Real Estate with 33%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Market Insights for Elwood VIC 3184
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