OTS apt around Prahran/Hawthorn or TH in Mentone/Ormond

J

Jinn

Hi Guys,
I've recently moved from States after graduation and a 4 year work stint. I initially thought to settle down in Syd but got a job in Melb so i am here now. I've got a bit of savings and after doing a bit of research through this forum, i am down to two options

- To buy a 2BDR off the shelf apt in Hawthorn / Prahran /SY/Armadale
- To buy a 2-3 BDR TH / Unit in Ormond / Mentone (off the shelf or recently built)

Budget is 500K . The view is 10+ yrs and i plan to live in the property. Whilst i may move to SG as part of the job rotation , i would still keep this as investment so rental yields has to be reasonable with a good long term CG prospects.

Any thoughts . Happy for any suggestions around other suburbs (b/w 5-8km for apt and 10-20km for TH or Unit/House from CBD in SE or eastern side preferably)

Cheers,
J
 
I'd go Elwood 50's large apartment with carpark. Many of those older blocks are small with no lifts and small body corp fees.
 
Probably one of the worst parts of Cheltenham, best is beach side of the highway. Looks like their map is purposely vague, the big green chunk next to it is le Page park, so looks like this new development is right on the industrial part of Cheltenham, maybe that big vacant block on Google maps on Cavanagh st.

Most of the pics they have are of beach's, Elwood, Brighton, Half Moon bay and Chadstone? etc. ha! love the marketing spin.

I think you're best off looking beach side, or close parts of Cheltenham. Good pocket off Park Rd, or Charman, Weatherall Rds, with close proximity to Station
 
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