1/57 Ward Street, St Leonards VIC 3223

Three-bed coastal unit | private double garage | lake & beach adjacency | updated kitchen & laundry This property presents a competitively strong offering as a low-maintenance, single-level unit in a tightly held coastal location. Its three-bedroom configuration with a private double garage is rare for the strata segment, providing practical utility that exceeds typical apartment stock. The recent refurbishments and direct proximity to both lake reserve and beachfront position it optimally for a downsizer, holiday buyer, or investor seeking a lock-and-leave coastal asset with genuine lifestyle appeal. The primary decision point is the evident market adjustment; the vendor’s current asking range sits significantly below the 2022 sale price. This creates a potential entry opportunity but necessitates scrutiny of strata health and any underlying market shifts. For a buyer, it serves best as a long-term hold to recapture equity, with solid rental demand supporting an investment thesis. Proceed with a strategic offer below the range, conditional on a forensic strata report. Sale History: – Jun 1998: $90,000 – Mar 2009: $260,000 – Feb 2022: $630,000 The 2022 sale at $630,000 establishes a recent high-water mark, making the current $500,000-$540,000 price range a notable correction. This trajectory suggests either a localized market softening or a vendor motivated to sell, providing a clear basis for negotiation below the listed band.