403/2 Eastern Place, Hawthorn East VIC 3123

Purpose-built student studio | Swinburne walking distance | Secure building with parking | Young renter demand zone The buying case rests on a rare combination: a fully furnished studio in a 2007 purpose-built student block, 700 metres from Swinburne, with a secure entry, private kitchen, and a parking space that can be rented separately. The property sits in a suburb where 73% of residents are aged 20–39, meaning tenant demand is structurally high and turnover low. For an investor seeking a low-maintenance, cash-flow-positive unit in a tight university precinct, this configuration is difficult to replicate at this price point. The building’s communal laundry and storage cages reduce operational friction, and the NBN connection supports the student demographic. This property best serves a buyer who values yield over capital growth and wants a turnkey holding with minimal management overhead. The primary risk is the wide valuation gap: one source estimates $117,000–$121,000, another $370,000. This suggests either a mispriced listing or a market segment with thin comparables. The buyer must treat the lower bound as the working number and verify recent sales of identical studios in the same complex. The 2015 last sale date means no recent price evidence, so a building-specific rental history check is essential. The lack of heritage or flood overlays is neutral but not a value driver. The opportunity is to secure a sub-$125,000 entry into a stable rental corridor, then hold for consistent income rather than flipping. Use the property as a long-term cash-flow asset, not a short-term trade.