29 Anderson Street, Bairnsdale VIC 3875

1960s weatherboard | solid condition | large 753m² block | 5.5% rental yield | FTTP & 5G This property presents a competitively strong entry point into the Bairnsdale market, defined by its substantial land holding relative to the dwelling footprint. The well-maintained, solid construction with recent restumping and painting reduces immediate capital demands, positioning it as a secure, low-maintenance holding. Its core appeal lies in serving two distinct buyer profiles: the investor secures a property with immediate tenant appeal and a robust gross yield, while the owner-occupier, particularly a first-time buyer, acquires a functional home on a block with clear future utility for expansion or subdivision, subject to due diligence. The reliable modern connectivity and absence of risk overlays provide foundational stability often absent in comparable period homes. Proceed with the understanding that the single bathroom and original kitchen represent a tangible value ceiling and a specific functional compromise that will resonate with a narrower buyer pool upon eventual resale. The price premium over the estimated value demands validation through negotiation, offset by the latent value in the under-utilised land. The commercial logic is clear: acquire for its present income or livability, then capitalise on the land bank through strategic improvement. Our judgment is to treat this as a long-term hold, leveraging its current yield and condition while planning for the incremental value-add that its parcel size uniquely permits. * 25 Whistler Drive: 4 beds, 2 baths, 2 cars | Listed at $685,000 * 60 Taylor Street: 4 beds, 2 baths, 1 car | Listed at $512,000 These comparables demonstrate a clear market premium for additional bedrooms and bathrooms. This property’s listing price acknowledges its smaller configuration, but its larger land parcel and solid condition provide a counterbalancing equity foundation distinct from standard three-bedroom offerings.