12/119 Tennyson Street, Elwood VIC 3184
12/119 Tennyson Street, Elwood VIC 3184
2 bed 2 bath penthouse-style apartment | sun-filled upper-floor position | 2005 build with high-quality finishes | lifestyle location near Elwood Village and beach
This apartment occupies a distinct position in Elwood’s market, offering a larger 2-bedroom, 2-bathroom format in a 2005-built complex that is uncommon among the area’s older or smaller stock. The penthouse-style configuration and sun-filled aspect suggest an upper-floor position with strong natural light, which typically commands a premium in bayside apartment living. The open-plan layout with a modern updated kitchen and high-quality finishes aligns with what downsizers and lifestyle-oriented buyers seek when moving from houses to low-maintenance apartments. The location on a tree-lined street with walkable access to cafes, parklands, and the beach reinforces its appeal for owner-occupiers looking for a relaxed, convenient bayside lifestyle rather than pure investment metrics.
The 2021 sale at $975,000 provides a meaningful benchmark, though the current marketing range of $940,000–$990,000 may reflect broader market conditions or the property’s specific presentation. The absence of confirmed outdoor space like a balcony or courtyard could be a factor for some buyers, as private outdoor areas are often valued in this segment. The building’s age at 2005 means it is modern but not brand-new, so buyers should consider any upcoming special levies or common area maintenance that may affect ongoing costs. The property’s positioning as suitable for first home buyers, investors, and lifestyle seekers suggests broad demand, but the final price may depend on how the interior condition and floor plan compare with other available apartments in the immediate area.
Detailed Independent Property Report prepared by PropCred Analyst team for 12/119 Tennyson Street, Elwood VIC 3184
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Elwood presents a well-established bayside market with strong appeal to both families and professionals, driven by its coastal lifestyle and excellent transport links. Demand is underpinned by a mix of owner-occupiers and investors, the latter attracted by solid rental yields. Recent price trends for houses show volatility, with a softening market, while the unit segment has demonstrated greater stability. Future growth will be supported by sustained buyer interest and high sales volumes, though high price points and sensitivity to economic conditions present ongoing affordability constraints.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
705m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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