401/70 Queensberry Street, Carlton VIC 3053

Level 4 townhouse | Heritage overlay | Double-glazed renovation | Proximity to universities | High rental yield. This property presents a competitively strong proposition as a renovated, low-maintenance unit within a heritage precinct, directly serving the persistent demand from students and professionals. Its double-glazed updates and furnished flexibility command a rental premium against typical Carlton stock, while the townhouse classification on a substantial lot differentiates it from standard apartments, offering a perception of greater space and permanence. The unit is positioned for an investor seeking a high-yielding, centrally-located holding with a defined tenant pool from nearby universities and the CBD, where the heritage overlay constrains new supply and protects streetscape character. The decision hinges on reconciling a high gross yield against capital growth headwinds in a suburb where values have softened. Specific risks include the very small internal area, which will cap capital appreciation and tenant appeal beyond the budget-conscious, and the lack of parking, which permanently narrows the buyer and renter pool. The commercial logic is clear: acquire at a price point near historical sales to secure a cash-flow-positive outcome, not speculative growth. Hold this property as a long-term income generator, not a short-term equity play, and price your offer against the cost of similar unrenovated units to justify the update premium. Recent comparable sales data contextualises the asking price: – Jul 2015: $195,000 – Nov 2007: $192,000 – Sep 2001: $145,000 – Mar 1998: $109,950 The plateau in sale prices over the past fifteen years underscores the suburb’s recent value contraction and frames the current listing as seeking a premium above the last transacted price, which you must weigh against the property’s renovation and the broader market’s decline.