1/130-132 Hoffmans Road, Essendon VIC 3040

Three-bedroom townhouse on large block | One of only eight units | Updated kitchen & bathroom | Private decked courtyard. This property presents a competitively strong offering due to its configuration and scarcity. The townhouse occupies a substantial lot, a rarity for this typology, and is one of only eight in a small block, enhancing privacy and reducing common area disputes. The updated central bathroom and contemporary kitchen with quality finishes signal a property that has been maintained to modern standards, reducing immediate capital expenditure for a buyer. This unit is best suited to an owner-occupier, particularly a young family or professional couple, who will value the internal living space, the separate study, and the oversized garage with internal access. The location supports this profile, with proximity to transport, cafes, and schools providing daily convenience. The decision hinges on reconciling its functional strengths with market and comparables risk. The primary risk mechanism is the dated comparable sales data; no sales have occurred in the building in over a year, and the most relevant comps are from 2016 and 2022, creating valuation uncertainty in a shifting market. This costs the buyer a clear pricing anchor, making the listed price guide an educated guess. The opportunity lies in the commercial logic of acquiring a well-finished unit in a tightly held block where owner-occupiers dominate, suggesting a stable community. Given the expression of interest campaign, a disciplined bid towards the lower end of the guide is warranted. The judgment call is to treat this as a long-term hold for lifestyle, not speculation, leveraging its livability and scarcity for gradual capital growth. Recent sales within the same building provide essential context: – Unit 9: $740,000 (Dec 2022) | 3 bed, 3 bath, 2 car – Unit 4: $440,000 (Jun 2022) | 2 bed, 1 bath, 1 car – Unit 10: $531,500 (Dec 2016) | 2 bed, 1 bath, 2 car – Unit 2: $565,000 (Sep 2016) | 3 bed, 2 bath, 1 car This sales history indicates a clear premium for three-bedroom configurations and additional parking. The subject property, with three bedrooms and two car spaces, aligns with the higher-value comps, but the age of the most relevant data requires a conservative adjustment for time. This analysis supports a value inference above the older 2016 sales but likely below the 2022 peak, positioning the current price guide as a plausible, if untested, market entry point.