1-5/37 Paxton Street Malvern East, 3145 VIC
5 apartments, 1 title - Exceptional prospects for investors and Developers alike...
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.
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