Not all apartments are created equal.
We typically pass on 80% of the apartments we review. Why?
We focus on the top-performing 20%, and that’s precisely where long-term success lives. We just secured this light-filled gem in one of Toorak’s most walkable pockets: 5/27 Wallace Avenue.
It’s a prime lock-and-leave investment that ticked all the right boxes, but not before we turned down eight other options.
Because most don’t meet our benchmarks & often fail our due diligence phase!
🚩 Too small internally, poor layout or cramped living space.
🚩 Lack of natural light, windows only facing south or one direction!
🚩 Main roads with noise issues.
🚩 Overshadowing from other buildings and no sunlight into the living spaces.
🚩 Privacy issues, direct line of sight into or from neighbouring apartments
🚩 No functional outdoor space, balconies too small or non-existent!
🚩 Poor ventilation, no windows in key areas like bathrooms or kitchens.
🚩 High owner’s corp fees, with no real value to show for it!
🚩 Hidden issues were found during due diligence, ranging from building defects to poor financials and owner’s corporation issues.
5/27 Wallace Avenue, Toorak 3142, was different!
Here is why we said yes to this lock-and-leave apartment in Toorak;
✅ Natural light flows via windows from three sides: east, north, and west!
✅ Internal size approx 82 m2, plus an outdoor balcony to the east.
✅ Ability to add value by repainting, removing the tiles and replacing them with light hardwood floors.
✅ Open-plan living with leafy outlooks from your east-facing balcony
✅ Spacious kitchen with north and western light, with stone benches & Smeg appliances
✅ Two decent-sized bedrooms, separated by the main bathroom!
✅ Perfectly placed between Toorak Village and Como Park, with cafés, shopping, and the Yarra River just a short stroll away!
✅ Trams are within 300 meters, and Hawksburn Train station is only – 1.1km away.
✅ Shared land holding of 1,651 m²
✅ Low density, only 18 in the building.
✅ We expect this to rent at $750 per week.
Currently, we have access to off-market properties between 1M – 20M AUD.
Read about Red Flags to watch out for when purchasing an apartment.
Industry Insider Property is an independent and committed company dedicated to helping buyers and sellers achieve their desired outcomes. Our experienced buyer agents and advisors will guide, execute, and deliver the best possible results to our clients. That’s why we have over 303+ 5-star Reviews on Google!
Our team will help you save time and share over 40 years of industry knowledge and expertise to ensure you make an informed decision.
Contact us at +613 8374 7652 or email us at admin@industryinsider.com.au to discover how we can assist you in your real estate journey.
Industry Insider Property
Level 3, 489 Toorak Road, Toorak 3142
+613 8374 7652
+613 402 346 810
industryinsider.com.au
