58 Tennyson Street ELWOOD

Benefits

Higher positional potential for long term growth
Growth above average metro in last decade
Excellent land content as proportion of price
Higher risk as newer precinct
Lower risk established look

Concerns

Requiring significant additional cash to purchase price
Adjoining properties could be a negative issue
Other properties in the street could be a negative issue
Other properties nearby could be a negative issue
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 58 Tennyson Street ELWOOD

Rated as a Serious Renovation:

Wow 58 Tennyson is an exciting project - with equal emphasis on both words - exciting and a project. While it looks sensational from the street, it requires a major reno - which depending on your finances could be done in two parts - basic makeover and live in (stage one) and then when the pennies have been saved and the options thought through - renovate into your dream home (stage two).

Position: this part of the world is at joining point of St Kilda, Elwood and Elsternwick/Caulfield and has been underrated for its location for many years - mainly due to the preponderance of flats and those that they can attract throughout the area - especially back in the 1970's/80's. But that is history and this is now - the area has gentrified to a large degree and the people that were once considered scary are now fewer in number and in a more enlightened society looked on as alternative.

Walking distance to beach, shops, train and some schools - this is brilliantly located on a macro level - even though the road carries some traffic.

Property: Numerous discussion points - lets start with the fact that this Federation style home looks sensational as is - sitting proud on the street and even though she is tired, you can see an exhalation (not just a glint) in her eyes.

Internally the front 4 rooms and upstairs main room are the highlights - they need work but the spaces and feel is excellent.

It's the living and wet areas - the expensive bits unfortunately that need the time, effort and money.

Chop off the back unless you like outside toilet and laundry and replace with a big kitchen and dining area. Ensuites and internal bathrooms and water to upstairs - all serious dollar spends - more than plastic surgery - its major - but it will be worth it.

And so to the rear - surrounded by bigger good and ugly looking buildings, you need some serious planting to create an oasis - but the room is there. The space is big enough for some form of a garage arrangement off the rear laneway which is your only point of car access - although it's B grade - meaning its used - but not a lot. All this and due to land size, you will still have some room for a pool and garden.

I really like this for those that are prepared to dream and do.

And so to Price: Firstly the purchase they are quoting high one's - you are joking!!!. Land in the area is ????? - so how does high one's get a look in.

Lets talk longer term - you pay in the mid $2m's (give or take) and the initial reno is $200k and the longer term one $500k plus - does it make sense?

Absolutely! This is a gem.

 

 


Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.

6
Bedroom
2
Bathroom
3
Parkings
566sqm
Land Area
Floor Plan Agent

Sold - 1:00 PM Dec 3 2016

Quote $2,000,000+

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.