2/198A Tennyson Street, Elwood VIC 3184
2/198A Tennyson Street, Elwood VIC 3184
2-bed mid-century unit | small 5-apartment block | sunny with leafy outlooks | walk to village and beach
This apartment stands out for its location in a small, mid-century corner block of just five units, a rarity in Elwood where larger walk-up blocks are more common. The first-floor position accessed from Burns Street offers privacy, while the sunny aspect and tranquil green outlooks from the bedrooms create a calm, light-filled interior. With a separate kitchen, private balcony, and undercover parking, the configuration is practical and well-suited to downsizers seeking single-level living or investors targeting the blue-chip bayside market. Proximity to Elwood Village, Tennyson Street dining, the beach, and public transport reinforces its appeal for those who value walkable amenity without sacrificing a leafy setting.
The property’s value may be influenced by the 1970 build date and the constraints of an older apartment layout, such as smaller room sizes or limited modern finishes. The small block size can be a positive for those wanting low-density living, but it may also mean higher per-unit maintenance costs or less flexibility for renovations compared to larger developments. Buyers should weigh the condition of common areas and the building’s long-term upkeep, as the 571-square-metre lot is shared among only five units. The absence of recent comparable sales data for this specific unit means price formation relies heavily on the broader market dynamics for mid-century apartments in Elwood, where demand is steady but selective.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/198A Tennyson Street, Elwood VIC 3184
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
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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
571m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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