342 Barkly Street, Elwood VIC 3184

Edwardian solid-brick | renovated indoor-outdoor | one block to beach | pool and rear garage potential | heritage overlay constraint. This property offers a rare configuration in Elwood: a four-bedroom Edwardian with a solar-heated plunge pool, rear double garage, and tree-top terrace, all one block from the foreshore. The 174 m² building on 294 m² land, with oversized sliding glass doors and a paved courtyard, positions it strongly for buyers seeking entertainer-focused living without sacrificing period character. It serves best for families or professionals who value immediate lifestyle amenity over land banking, given the compact site. The Special Building Overlay and heritage overlay introduce specific costs: flood risk may require additional drainage or insurance premiums, while heritage restricts external alterations. The rear garage offers undercover extension potential, but any expansion must navigate council approvals. Rental yield near 3.9% supports hold-for-income strategy, but the price guide sits near the 2020 purchase price, suggesting limited short-term capital growth. Use this property as a long-term family home with optional rental income, not a renovation flip.