4/257 Main Road W, St Albans VIC 3021

3 bed unit in St Albans | rare 214sqm land | flood overlay flagged | main road trade-off | long-term hold candidate This unit occupies a genuinely uncommon position in St Albans: a three-bedroom, single-bathroom configuration on 214 square metres of land, with both a courtyard and a lock-up garage. For a buyer, that land component and the scarcity of three-bedroom units in this pocket create a structural advantage over the typical two-bedroom stock. The property has been freshly painted with a new hot water system, which removes immediate deferred maintenance, and the split-system heating and cooling keeps it tenant-ready. It suits first-home buyers who want space without a full house, or investors chasing a gross yield in the 4 to 5 percent range from a rental band of $420 to $490 per week. The school zoning to Albanvale Primary and Copperfield College adds a practical layer for family tenants. The flood overlay is the primary risk and it carries real cost: expect higher insurance premiums, possible constraints on future renovations, and a narrower buyer pool at resale. The main-road exposure on Main Road West will limit capital growth relative to quieter streets, and the single bathroom is a functional constraint for a three-bedroom layout. On the opportunity side, the 1993 purchase price of $94,000 shows the long-term land appreciation trajectory, and the rent growth from $340 in 2022 to $420 today confirms steady demand. Hold this property for rental income and land banking, not for short-term flipping.