27 Kalimna Street, Essendon VIC 3040

Large block in blue-chip Essendon | heritage overlay | low rental yield | strong owner-occupier demand The property’s primary advantage is its substantial 1,003 m² landholding in a tightly held street, which is rare for Essendon and positions the house as a long-term land-holding play. The four-bedroom layout and double garage suit a family seeking space within a premium suburb, while the heritage overlay signals that the streetscape and character are protected—this can reduce future development risk but also limits immediate redevelopment upside. For an owner-occupier, the land’s size and the property’s positioning near Essendon Primary School and Strathmore Secondary College make it a strong candidate for a generational home. The key risk is the heritage zone, which may restrict significant alterations or demolitions, potentially narrowing the buyer pool to those comfortable with preservation or sympathetic renovations. The current sale price range sits above the mid-range valuation of $2.99 million, meaning a buyer should negotiate carefully against that gap. The low rental yield of 2.07% suggests the property is not suited for investors focused on cash flow, but for a buyer seeking a family home with future subdivision potential (subject to council approval), the land size offers optionality. The auction clearance rate in Essendon sits at 54%, indicating a balanced market where well-priced properties still attract competition.