3/5 Gnarr Street, Lake Wendouree VIC 3350

3-bed unit near Lake Wendouree | 406m² land in prime pocket | brick veneer 1991 build | strong location demand This property offers a rare combination of a generous 406m² land holding with a solid brick veneer unit in a tightly held lakeside precinct. Its position three doors from Lake Wendouree places it within walking distance of the lake track, cafes, and the hospital precinct, which broadens its appeal to both owner-occupiers seeking lifestyle amenity and investors targeting healthcare workers or downsizers. The 1991 construction is modern enough to avoid major structural concerns while offering a blank canvas for cosmetic updates. Two car spaces on this land size add practical value in an area where parking can be constrained. The primary risk is the single bathroom, which may limit appeal for families or sharers and could cap price growth relative to two-bathroom units in the same bracket. The brick veneer finish, while durable, offers less thermal efficiency than double brick, so an energy assessment is recommended. An opportunity exists to add value through modest interior upgrades, as the 1991 fit-out likely presents dated finishes that a buyer could refresh to lift rental yield or resale position. The 2022 sale history and current marketing suggest motivated selling, which may create negotiation room.