506/3 Olive Street, Caulfield South VIC 3162

Sub-penthouse with two-car parking | Premium finishes and wrap-around terrace | Sits above Woolworths near tram and train | Suits downsizers and executive tenants This apartment is competitively rare for Caulfield South. A three-bedroom sub-penthouse with two bathrooms and two secure car spaces is not typical of the suburb’s apartment stock. The finishes—engineered timber flooring, stone benchtops, soft-close cabinetry, Bosch appliances, and a butler’s pantry—are closer to a luxury house than a standard unit. The wrap-around terrace and floor-to-ceiling windows extend the living space outdoors. The building’s amenity package, including lift access, a rooftop terrace, and a bookable entertaining room, positions this property for downsizers, affluent owner-occupiers, or executive tenants who prioritise walkability and low-maintenance living over land size. Its location above Woolworths and near Glen Huntly Road’s café strip, transport, and parks reinforces a lifestyle-oriented appeal. The value of this property may be influenced by its position as a premium apartment in a suburb where detached houses dominate the upper price range. Buyers should weigh the strong finishes and amenity against the inherent constraints of apartment living, including body corporate fees and shared common areas. The lack of direct settled comparable sales for similar sub-penthouse stock nearby means pricing may be tested by how much buyers are willing to pay for a luxury apartment over a standard unit. The building’s new or near-new age may support a higher valuation, but resale demand for a three-bedroom apartment with two parking spaces may narrow the buyer pool compared to a house.