1/187-189 Brighton Road, Elwood VIC 3184
1/187-189 Brighton Road, Elwood VIC 3184
Renovated Art Deco unit | Flood overlay caution | Below 2018 price | Strong rental demand | Walk to beach
This unit occupies a rare position in the market: a recently renovated three-bedroom Art Deco apartment in a tightly held 13-unit block, now priced below its 2018 sale level. The combination of modern fixtures, timber flooring, built-in robes, and secure parking makes it immediately livable for an owner-occupier seeking low-maintenance bayside entry, while the strong rental demand and estimated yield around $475 per week suit an investor. The average eight-year owner tenure in the building signals a stable, well-managed complex unlikely to see frequent turnover or short-term rental disruption.
The primary risk is the flood overlay, which may affect insurance costs and future resale appeal to cautious buyers, though no bushfire or heritage constraints apply. The pricing range of $550,000 to $660,000 across platforms suggests negotiation room, especially given the 2018 sale at $669,900 and no recent building sales to anchor expectations. For a buyer willing to commission a strata report and assess flood mitigation, this property offers a renovated product in a prime walkable location at a discount to its own history, with optional furnished purchase adding flexibility for an immediate rental strategy.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/187-189 Brighton Road, Elwood VIC 3184
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Elwood presents a well-established bayside market with strong appeal to both families and professionals, driven by its coastal lifestyle and excellent transport links. Demand is underpinned by a mix of owner-occupiers and investors, the latter attracted by solid rental yields. Recent price trends for houses show volatility, with a softening market, while the unit segment has demonstrated greater stability. Future growth will be supported by sustained buyer interest and high sales volumes, though high price points and sensitivity to economic conditions present ongoing affordability constraints.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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