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37 Elphin Grove, Hawthorn, VIC 3122
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Property Highlights

Prime Location Ready to Re-develop or Keep as Existing 28 Properties STCA

In a picturesque residential street, only 500m to Glenferrie Road's superb array of shops, restaurants and cinemas, this substantial 3-level block of 28 apartments represents a myriad of exciting opportunities (STCA). Directly adjacent to Elphin Reserve and with no heritage overlay, it is the ideal site to build a new luxury home designed to your own tastes and requirements, a dual occupancy development or an entirely new enclave of boutique apartments. Alternatively, as is or refurbished, the superbly maintained and highly rentable block is a rewarding addition to any investment portfolio.

Only moments to Auburn and Glenferrie stations, Central Gardens, Swinburne University, a range of excellent schools and with a side right of way, this is an exceedingly rare chance to maximise the value of this highly coveted location and 638sqm approx. allotment.

Key Highlights:

- Freehold property comprising 28 apartments (studio or 1 bedroom with 1 bathroom) plus on-site parking

- Substantial parcel of land of 638sqm approx.

- Two street frontages

- Overlooking adjoining parkland

- Within the quiet, tree-lined residential street

- Potential to return $292,000 (Fully leased)

- Subject to short term monthly tenancies

- Potential to sub-divide or redevelop (STCA)

- Zoning: General Residential Zone 3 (GRZ3)

Remember to mention you found this property on DevelopmentReady

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