10/88 Orrong Road, Elsternwick VIC 3185

Retirement unit | 67m² internal | 2-bed, 1-bath | 1 car + 1 garage | 2393m² lot | Heritage overlay | 23-unit complex | High long-term residency This unit offers a rare configuration within a tightly held 23-unit complex, where the 67m² internal footprint and separate garage provide genuine livability uncommon in retirement stock. The heritage overlay and low turnover in the building create a stable, established setting that suits buyers seeking a secure, low-maintenance base in Elsternwick. It serves best those downsizing within the area or investors targeting the reliable demand from an aging demographic, given 68-69% long-term residency locally. The primary risk is the heritage overlay, which may restrict future modifications and add compliance costs. The $750,000 list sits above recent estimates, so negotiation room exists given the July 2022 sale at $615,000. Opportunity lies in the underutilised garage and car space, which could be rented separately to boost yield. Hold this property as a long-term residence or stable rental, not for short-term capital gain.