10/32 Clarence Street, Elsternwick VIC 3185
10/32 Clarence Street, Elsternwick VIC 3185
1-bed in 70% renter building | priced below recent street comps | high yield potential 6–8% | long-term owner majority on street | strong rental demand
The property is positioned below recent comparable sales on Clarence Street, where similar one-bedroom units have transacted between $322,000 and $375,000, suggesting a potential entry discount. The building’s 70% renter composition indicates consistent tenant demand, and the street’s long-term tenure profile—49% of owners holding for over ten years—points to stable neighbourhood desirability. This unit suits an investor seeking yield, with achievable gross returns of 6 to 8 percent based on local rental evidence of $395 to $475 per week.
The primary risk is the absence of recent sales data within the building itself, making condition and strata quality unknown variables that could affect valuation or holding costs. The low auction clearance rate in Elsternwick signals buyer caution, which may limit short-term capital growth. However, the price guide sits well below the suburb median of $407,000, offering a margin of safety if the unit is in reasonable condition. Hold for rental income and medium-term capital appreciation, not for a quick flip.
Detailed Independent Property Report prepared by PropCred Analyst team for 10/32 Clarence Street, Elsternwick VIC 3185
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
2
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Market Insight
This suburb presents a high-value, unit-dominant market with a professional demographic, underpinned by strong educational attainment and secular trends. Demand is driven by owner-occupiers and investors, attracted by the established profile and relative affordability within the unit segment. The market exhibits divergent trends, with houses demonstrating robust long-term growth while unit prices show recent resilience. Future performance will hinge on the balance between sustained professional demand and the inherent supply concentration within the unit market, which presents both opportunity and a key constraint on capital growth.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
775m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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