19/24 Milton Street, Elwood VIC 3184

| 2-bed apartment, Elwood | secure strata lot | no overlays | carport included | study nook | This property occupies a defensible position in Elwood’s entry-level market, offering a rare combination of no flood, bushfire, or heritage constraints on a 1271m² strata site. The inclusion of a study and balcony, alongside reliable NBN and 5G coverage, adds practical appeal for first-home buyers or investors targeting the St Kilda Primary and Elwood College catchments. Its compact footprint and carport make it a low-maintenance hold, best suited to owner-occupiers seeking lifestyle proximity to Tennyson Street and the St Kilda Botanical Gardens. The primary risk is its exposure to a softening segment: recent sale history shows a $565k transaction in March 2025, and the current listing range sits near that level, suggesting limited short-term capital growth. Rental yields at 4.5% are acceptable but not exceptional for the area, and the 50-day marketing period in 2025 signals moderate buyer hesitation. The opportunity lies in negotiating below the mid-estimate of $570k, leveraging the 2023 rental history of $440 pw to underwrite a hold strategy. Use this property as a stable, cash-flow-neutral base or a long-term rental, not a flip.