Unit 8/7 Cardigan Street, St Kilda East VIC 3183

Phone enquiry code for this property: 5821

Recently renovated one bedroom apartment on the third floor of a 1960s brutalist style block with great character.

Spacious light filled living room and bedroom with high ceilings. The living area has floor to ceiling windows looking over treetops. It has a lovely feel to it, especially through the middle of the day when it is bathed in dappled sunlight. Reverse cycle heating/airconditioning keeps it warm in winter and cool in summer.

The large bedroom has floor to ceiling wardrobes giving plenty of storage space. The bathroom and kitchen are well appointed and functional, having been fully renovated recently. There is a shared laundry on each level of the apartment block with washer and dryer.

The location is as good as it gets. The immediate area is culturally diverse, a mix of the traditional Hasidic Jewish community (perhaps Melbournes last genuine ethnic enclave) and newcomers of all persuasions. Carlisle street, which is walking distance, has plenty of great restaurants and bars, while maintaining old High Street charm. Glen Eira Road, one block away, is an undiscovered gem, oozing charm and sophistication.

Then of course theres Chapel Street and St Kilda just a little further, with all they have to offer.

Would make a great home for young couples or singles. Ideal for first home buyers looking for something nice, with character, in a good location and with great prospects for capital growth. Would also make a good investment property, offering high rental yield at the same time as strong capital growth.

As the owner since 2012, I lived in the apartment after initially renovating it, before renting it out. I found it a great place to live, while as an investment it has been a breeze. No trouble finding or retaining tenants. My most recent tenants (the second I had) stayed for two and half years. Under our most recent lease the rental was $340/week. Under current market conditions it is feasible to have the place positively geared while also expecting a windfall when it is sold, a rare combination in the Melbourne market.

The apartment is open for inspection by appointment. This is a private sale.

Phone enquiry code for this property: 5821