1&2/38 Koonawarra Street

Perfectly positioned less than a five-minute walk to Monash University, this exceptional two-dwelling offering is one of the most versatile and high-yield opportunities to hit the market. Set on a substantial 705m² (approx.) block and comprising two completely separate units on a single title, this property presents outstanding scope for strong rental returns, multi-generational living, or a lucrative long-term investment in one of Melbourne's most in-demand precincts. With Monash University just moments away, demand for student accommodation remains consistently high making this a prime opportunity for investors seeking reliable, year-round rental income from two tenancies. Owner-occupiers will also appreciate the rare chance to live in one residence while leasing the other for passive income to offset mortgage repayments. Unit 1 Street-Facing Appeal Welcomed by its private street frontage and sunlit porch, the first residence showcases warm laminated timber flooring and a comfortable living zone that flows into a well-appointed stone-benched kitchen with generous storage. The master bedroom includes a full ensuite, while two additional bedrooms upstairs share a neatly presented central bathroom. Natural light, low-maintenance finishes and a functional layout make this a highly attractive rental or living space. Unit 2 Quiet, Private & Spacious Privately tucked at the rear, the second residence features a modern brick façade and an impressive floorplan with three bedrooms, two bathrooms and two toilets. Designed for comfort and practicality, it offers heating and cooling, a light-filled living zone, personal laundry facilities and its own low-maintenance backyard-ideal for large families, students or multiple renters. Both dwellings include separate entries, independent backyards and lock-up garages, ensuring privacy and convenience for each occupant. With heating and cooling in both units, the property is ready to occupy or lease immediately with no further expense required. Located within short walking distance to Monash University, public transport, shops, cafés and major arterial links, this address sits at the heart of a blue-chip rental corridor where demand continues to surge. A rare opportunity offering lifestyle, flexibility and exceptional income potential - secure two properties for the price of one in a location that will always deliver. Terms: 10% deposit. Balance 30/60 days Photo I.D. required at all inspections. DISCLAIMER: The measurements provided of the land and / or property may not be 100% accurate. In order to satisfy yourself of the exact dimensions of the property / land / or of each room, we advise you to conduct your own measurements and / or engage the services of a licensed surveyor. Responsibility for any omissions or errors contained herein is expressly denied. Please be advised that some images included in our marketing materials feature digital enhancement/virtual staging techniques designed to illustrate the property's potential appearance; these alterations are solely for visualization purposes.