31 Park Street

St Kilda West VIC 3182

This entire Tudor style block of eight two-bedroom apartments in the heart of St Kilda West is offered for sale as one , only meters away from Beaconsfield Parade and St Kilda Beach on a huge block of land. Only 350m to Fitzroy Street, this classic 1940s block offers strong yields and capital growth as well as future development potential with scope for strata subdivision and building at the rear with direct views of the water (STCA). The apartments retain their authentic charm with high ceilings, elegant lines, and open fireplaces. Set on a level 1029 sqm of land with large outdoor grounds, the beautifully maintained full-brick block presents a unique landbank opportunity suited to the investor/home builder or SMSF buyer in a prime location between St Kilda beach and Albert Park. Retain as a solid investment or explore the potential to renovate as a family compound and add value as well as scope to develop the rear to one major residence with direct water views.- Entire Tudor style block of 8 large apartments- 200m walk to beautiful Catani Gardens & Beach- Beautiful facade, original deco details- Classic layouts, light and updated interiors- Each with 2 bedrooms and built-ins plus balconies- Full side drive with three garages.- Spacious living rooms, hardwood timber floors- Open fireplaces, updated kitchens, and bathrooms- Sunny common grounds- Each apartment has its own private balconies.- High-yielding bricks and mortar land asset- Strong rental demand and income stream- Ideal to retain as a solid income earner- Exciting potential to add significant value- Scope for future strata subdivision STCA- Potential to develop STCA- 350m walk to Fitzroy St- Walk down to the beach and St Kilda Pier- 600m to Albert Park Lake Reserve- Current rental return $226,800 PA approx.- Plans available to build out the back