209/122 Ormond Road, Elwood VIC 3184

1-bed apartment on Ormond Road | same-building sale at $415k | established multi-unit site | investor and first-home buyer draw This property is a compact one-bedroom unit in a multi-storey building on a substantial 1,240 m² lot, a configuration that is standard for entry-level apartment ownership in Elwood. Its competitive strength is the direct same-building comparable sale at $415,000 in May 2025, which provides a clear price anchor. The location on Ormond Road offers walkable access to village cafes and retail, making it best suited for first-home buyers seeking low-maintenance living or investors targeting rental demand in a beachside inner-south suburb. The value of this property may be influenced by its street exposure on a main corridor, which could reduce privacy and increase noise compared to quieter residential streets. The building’s age and internal finishes are not confirmed, so potential buyers should weigh the need for future updates. The same-building 2-bedroom sale at $780,000 suggests a premium for larger units, but the one-bedroom configuration remains in the lower entry tier, where price sensitivity is typically higher.