68-70 Palmerston Crescent
South Melbourne

Rare and enticing, this one-of-a-kind property hosts two independent Victorian homes on a single title, each with its own street frontage and deep north-facing courtyard in one of South Melbourne’s most tightly held lake-side pockets. Encompassing approximately 275sqm (10m x 27.5m) moments from Albert Park Lake, it’s a position that offers quiet residential appeal with unrivalled access to the Royal Botanic Gardens, the Domain, Clarendon Street, MSAC, the Beach and the Arts Precinct.

Both homes are updated and offer brilliant light-filled layouts, with original Baltic pine floors, arched hallways, two bedrooms and sun-drenched open-plan living and dining areas with modern kitchens. Each outdoor space captures uninterrupted sky views and all-day natural light, with an undeniable sense of openness and serenity that is a rare find so close to the CBD.

With the option to lease both for strong returns (estimated total annual income $78,216.00), reside in one while renovating/extending the other, or combine and create an extraordinary double-fronted residence with scope to extend out and up (STCA), the potential here is endless. Zoned for South Melbourne Park Primary and close to some of Melbourne’s most prestigious schools, including Mac. Robertson Girls’ High, Melbourne Grammar and Melbourne Girls Grammar, it is a blue-chip location that continues to grow in prestige and demand.

South Melbourne Market, The Kettle Black and St Kilda Road trams are all within easy walking distance, making this a compelling opportunity to secure substantial inner-city land with lifestyle appeal, long-term vision and valuable dual-frontage versatility.