Princes Park: Two parkside Art Deco apartments for sale

Anyone who jogs around Princes Park will recognize this Art Deco building – and now two of its apartments are for sale with affordable price tags.

Buyers have not one, but two opportunities to live on a prized street next to Princes Park for less than $1m.

Two apartments within an Art Deco complex opposite the popular park are set to be auctioned back to back on March 19, after being listed by members of the same family.

Both two-bedroom, one-bathroom pads – which are nestled among multimillion-dollar mansions at 18 Bowen Cres, Carlton North – have $750,000-$800,000 price guides.

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Although, whoever snaps up the top-floor apartment at No. 2 when it goes under the hammer at 1pm will be given first crack at also securing the downstairs home at No. 1 15 minutes later, for the reserve price.

Nelson Alexander Fitzroy agent Rick Daniel said those interested in buying both could combine the apartments into one impressive house, or rent them out for an estimated combined return of $1,225 per week.

“There’s also that opportunity for a family to live together but separately,” he said.

Individually, the properties offer an affordable means to buy on to one of the inner north’s most sought after streets – where a four-bedroom Victorian mansion is also for sale with a $8.75m-$9.25m price guide.

The lavish listing at 76 Bowen Crescent is priced to break its own residential price record for postcode 3054 – comprising Carlton North and Princes Hill – which it set at $8,375m last June.

“There are only two of those Art Deco buildings along Bowen Crescent,” Mr Daniel said.

“I’ve had a lot of calls from people who often run past and admire (18 Bowen Crescent) asking for information – anybody who does laps around Princes Park will recognize the building.”

The agent noted the homes had belonged to members of the same family for 5½ years.

“A brother and sister, and the sister’s husband, own the upstairs one, while downstairs is owned by their parents,” he said.

The apartments “needed a refresh” when the family bought them, I added.

They had since completed this, drawing on the design and architecture background of one of the owners.

The units share a garden with a third home in the complex, and offer Princes Park views, Art Deco charm and low-maintenance living.

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Originally published as Princes Park: Two parkside Art Deco apartments for sale


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