7 Otway Street South

The property is currently operating as short term accommodation with returns exceeding 6% and is offered for sale as a 'walk in/walk out' transaction inclusive of all chattels. Showcasing architectural and creative design, this truly one of a kind residence blends natural timber finishes, and a thoughtfully crafted layout to deliver a unique home or multiple accommodation spaces unlike any other. Intriguingly designed, this property effectively functions as two separate accommodation suites, whilst maintaining its flexibility to easily convert back to a single residence. This flexible configuration with adaptable spaces is ideal for buyers seeking a home while earning an income, opportunities for working from home with separate creative work spaces or multigenerational living. You can choose the configuration that best suits your lifestyle and interests. The unique character and intriguing quirky spaces are crafted from reused and recycled timbers and reinvented materials. Aside from the wall framing and roof trusses, much of the exposed structure has been crafted from durable timber species. Many windows and doors are custom joinery or carefully sourced recycled 'Queenslander' period window sashes along with three 150-year-old leadlight window sashes which have been restored from a historic Ballarat building prior to its demolition. The sun-filled alfresco entertaining area offers a welcoming space to relax and entertain, complete with a repurposed club lounge suite featuring seats clad in durable Jarrah timber and cleverly designed hinged armrests providing additional storage. Positioned on an elevated allotment on the corner of Glazebrook Street, this home and the unique accommodation spaces are nestled against established trees creating a peaceful and tranquil environment. Located in an outstanding Inner-East position, the property offers convenient access to the Central Business District, supermarkets, and major shopping amenities, combining lifestyle appeal with everyday convenience. A rare offering that delivers unique flexible living opportunities and exceptional investment potential.