11/12 Alexandra Esp, Bellerive TAS 7018

2-bedroom flat, Bellerive | Flood overlay noted | Rental yield potential | 1970s block, 74m² This unit presents a defensible entry point into the Bellerive market, where the combination of a 74m² floorplan and a 1011m² land holding within a 1973 block is uncommon. The built-in robes and open car space are functional rather than premium, but the location adjacent to the foreshore walking track and within the Bellerive Primary School catchment gives it structural demand from both owner-occupiers and investors. The property is best suited to buyers seeking a solid rental return with moderate capital growth, as the estimated weekly rent of $525 supports a reasonable yield against the asking range. The flood overlay is the primary risk and must be investigated thoroughly, as it could affect insurance premiums and future resale liquidity. However, the absence of bushfire or heritage constraints simplifies due diligence. The shed adds marginal utility, and the NBN FTTP is a minor convenience rather than a value driver. The opportunity lies in the property’s positioning within a well-served suburb with ferry access to Hobart, which should underpin ongoing demand from downsizers and first-home buyers. Comparable sales from 2019 and 2021 suggest steady appreciation, but the buyer should negotiate with the flood risk as leverage.