201/82 Bulla Road, Strathmore VIC 3041

Second-floor apartment in secure complex | walk to DFO, trams, park | two-bedroom two-bathroom with ensuite | strong rental yield for Strathmore. This property offers a rare combination of modern specification and genuine walkability in a suburb where median house prices exceed $1.3 million, making it a competitively positioned entry point for first-home buyers or a high-yield addition for an investor. The open-plan layout with Bosch appliances, a recycled timber bench, and chic ensuite finishes lifts it above typical entry-level stock, while the secure basement parking, storage cage, and lift access reduce friction for a downsizer. The zoning for Essendon North Primary and Strathmore Secondary College adds tenant appeal without inflating the purchase price, and the absence of heritage or flood overlays removes costly compliance risk. The primary risk is the shared 3002m² lot, which means no private land value and exposure to body corporate fees and future special levies, though the modern fit-out suggests recent capital works are unlikely. The January 2023 sale at $480,000 provides a clear floor, and the current listing range sits below both automated valuations, offering a potential discount for a buyer willing to move before the set date. For an owner-occupier, this is a lock-and-leave home with strong lifestyle adjacency; for an investor, the $570 per week rental estimate supports a gross yield above 5.5 percent, which is competitive for inner-north Melbourne. Hold for steady rental income or occupy as a cost-effective base near the city.