49 Garfield Street, Richmond VIC 3121

Compact 2-bed house on 113m² lot | Single carport | No overlays | Inner-city residential zoning | School zone access. This two-bedroom house on a 113sqm lot suits downsizers or investors seeking low-maintenance entry to Richmond’s residential core. The modest land size and house footprint limit expansion potential, positioning it as a practical hold rather than a renovation canvas in a street of similar compact homes. Its single-level layout with one bathroom appeals to renters or first-home buyers who prioritise affordability over space in this densely built pocket. Properties like this typically draw steady rental demand from young professionals commuting to the CBD, given the reliable NBN and 5G coverage. In the local market, such houses maintain holding value through Richmond’s ongoing urban consolidation, where small lots resist vacancy. Free from bushfire, flood or heritage constraints, it offers straightforward residential use within Yarra Council. Long-term appeal stems from its zoning alignment with nearby schools like Richmond West Primary, attracting families trading up later. Similar holdings have shown resilience, behaving as stable assets amid suburb densification. Overall, it fits buyers eyeing reliable income or a foothold before scaling to larger options nearby.