1/57 Ward Street, St Leonards VIC 3223

3-bed unit on 304m² lot | two parking spaces | peaceful retreat positioning | previously leased This unit presents a competitively strong proposition through its land component and configuration, a combination becoming rare in the apartment market. The 304 square metre lot size and two parking spaces for a three-bedroom unit provide a tangible land asset and practical utility that typically appreciate more reliably than compact, strata-heavy offerings. Its description as a peaceful retreat aligns it with buyers seeking a lifestyle purchase or a rental appealing to small families, given the three-bedroom format and zoned layout. This property serves the long-term holder best, either as a primary residence with space or as a investment targeting family tenants rather than transient occupants. The decision hinges on accepting the illiquidity and management burden inherent in a unit of this vintage and unspecified condition, as the lack of data on building age, strata health, and major capital expenses represents a material risk that costs the buyer in due diligence and potential special levies. The opportunity lies in acquiring a property with house-like attributes at a likely entry point below a standalone house, with the commercial logic of capturing land value growth while supplying a high-demand rental format. Proceed only with a stringent building and strata inspection, and hold for a minimum of one cycle to realise its land-value advantage over purely speculative apartment stock.