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23 Sandham Street, Elsternwick, VIC, 3185

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Properties / Buy / Victoria / Elsternwick

Development Potential

1. Property Summary

Property Type

Residential

Sub Type

Apartment Sites, Townhouse Sites, Land Site

Land Area

1,700 m² (*approx)

Selling Method

$AUD: Private Sale $4,000,000 - $4,250,000

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2. Property Highlights

Ideal north-facing development opportunity or bulletproof investment on 1700sqm approx

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.