2/1 Garden Court, Elwood VIC 3184
2/1 Garden Court, Elwood VIC 3184
2/1 Garden Court, Elwood VIC 3184 is a 2-bedroom, 1-bathroom, 1-car townhouse/apartment in a small boutique block on a 587 m² lot, with a heritage overlay, no bushfire or flood overlays detected, and current sale pricing around $1.0M–$1.1M. The property was listed for sale as a townhouse in Elwood. The most specific listing descriptions indicate a ground-floor garden residence with a north-facing courtyard, additional balcony, secure undercover parking with direct courtyard access, gas fireplace, separate study/home office, and a beautifully updated bathroom with floor-to-ceiling European tiling; it is described as one of only four residences in the block and as an Art Deco home in an immaculately maintained boutique setting.
Ground-floor garden residence in boutique Art Deco block | North-facing courtyard with direct parking access | Heritage overlay may limit external changes | Rare combination of private outdoor space and parking in Elwood
This property is positioned as a rare offering within Elwood’s low-rise apartment market, combining ground-floor access with a generous north-facing courtyard and secure parking. The boutique block of only four residences and its Art Deco character give it a house-like feel uncommon in this price segment. It serves downsizers seeking single-level living, professionals wanting a walkable bayside base, or buyers prioritizing private outdoor space without a full house commitment. The updated bathroom and separate study add practical appeal, while the quiet court location near the botanical gardens, beach, and cafes reinforces its lifestyle credentials. Its configuration stands out in a suburb where ground-floor units with private garden and dedicated parking are scarce.
The heritage overlay may constrain future external alterations, which could affect long-term flexibility for some buyers. The single bathroom and compact footprint might limit appeal to families or those needing more space. Strata fees, though not detailed here, are a factor to review, as is ongoing maintenance in an older building. These considerations should be weighed against the property’s established character, private courtyard, and location—elements that typically underpin demand in this pocket. The lack of a second bathroom or dedicated laundry may also be noted, though the overall package remains compelling for the right buyer.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/1 Garden Court, Elwood VIC 3184
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
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
1
Parking
1
Land
587m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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