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4/111 Westbury Street, Balaclava VIC 3183

$560,000 - $580,000

Search Band Search Visibility Band

$550k - $600k High Confidence Calculated based on strong search observations.

Apartment 2 Beds 1 Bath 1 Car 83 m²

Listed: 10 days ago

Overview

This spacious apartment in Balaclava offers approximately 83 square metres of internal living space, presenting an exceptional opportunity for those seeking flexibility and potential for customization. The current layout provides scope for conversion to a three-bedroom residence, subject to necessary approvals, appealing to a variety of buyers such as first-home owners eager to tailor their space, investors desiring future growth prospects, or anyone looking to create a home suited to their specific needs.

Positioned conveniently close to vibrant local cafés, shopping options, public transport, and everyday amenities, this property combines lifestyle benefits with practicality. Situated in Balaclava, a suburb known for its rich culture and close proximity to St Kilda, residents enjoy an engaging community atmosphere with authentic bakeries and diverse local offerings.

While the apartment now serves as a comfortable two-bedroom home with one bathroom and secure parking, the generous floor area provides room for prospective enhancements. This flexibility underscores the potential value-add opportunities inherent in acquiring this property, making it a compelling consideration in the current market.

Local Market Insights

In Balaclava, Quiet Listings observed 12 new apartments entering the market over the last 30 days, up from 8 during the previous 30-day period, with an average advertised asking price of $591,667. The property type mix of listed properties is predominantly Apartments at 59%, followed by houses (25%), and townhouses (9%). The most active agency for apartments in the Balaclava area is currently Belle Property, representing 25% of new listings, followed by Buxton Real Estate Group with 25%. 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.