Malvern East 1-5/37 Paxton Street

A rare offering in a select Central Park pocket and close to a choice of village cafes and transport, this solid 1970s, 2-storey apartment block, comprising 5 x 2 bedroom apartments with parking all on one title, has thrilling potential for future enhancement through renovation, reconfiguration or redevelopment.

Successfully tenanted with a strong and stable tenant history, it is in sound, largely original condition with immediate and achievable opportunities to significantly enhance its current rental yield and capitalise on consistent rental demand.

Comprising 3 first floor apartments and 2 ground floor, all with near-identical floorplans that include double bedrooms with robes, generous bathrooms with a bath and laundry facilities, bright living rooms with leafy west-facing outlooks, modern, eat-in kitchens and undercover or off-street parking.

Zoned GRZ Schedule 10 and surrounded by open space that could be reconfigured to incorporate courtyard gardens for ground floor units, it has potential to extend upwards onto the existing double storey footprint (STCA) or simply introduce straightforward, contemporary updates in order to instantly maximise returns.

Prized for its tranquil, leafy setting surrounded by a choice of parkland, it is within strolling distance to Hedgely Dene Gardens, Darling Village, Wattletree Road or High Street trams, a choice of 2 railway stations and leading private schools with Early Learning Centres including Korowa, Sacre Coeur and Caulfield Grammar Malvern campus. Just a short drive to Malvern Central, Glenferrie Road, Chadstone shopping centre or Camberwell Junction and convenient access to Monash Freeway or Dandenong Road.

Unrivalled opportunity with untapped potential for investors or developers.

Also visit the stand alone website at: www.37paxtonstreetmalverneast.com

Stable, successful investment in a sought-after location with significant scope to enhance Large land area with generous parking, north-facing rear and potential to reconfigure (STCA) Easy walking distance to Central Park, cafes, a choice of transport and private schools Quiet, leafy setting surrounded by quality homes and attractive, boutique apartment blocks Rare chance to acquire an entire apartment block on 1 title with unrealised renovation or redevelopment prospects

Land: 780 sq m approx.