406/132 Burnley Street, Richmond VIC 3121
406/132 Burnley Street, Richmond VIC 3121
fourth-floor corner | two-bedroom with parking | lock-and-leave | Richmond city fringe
The apartment occupies a genuinely private fourth-floor corner in the Estelle building, with only one neighbour and double glazing throughout – a configuration that reduces noise and overlook risk, uncommon in this price tier. For a buyer seeking a low-maintenance city base, the combination of two bedrooms, a dedicated car space, and morning sun on the balcony creates a liveable floorplan that competes well against nearby offerings that often sacrifice either parking or bedroom count. It suits a professional couple, a downsizer, or an investor targeting the reliable inner-urban rental pool.
The primary risk is the inconsistent sale history: a 2019 sale at $525,000 and a 2025 record at $440,000 need reconciliation before commitment, as the lower figure may signal a different unit or a distressed transaction. Owners corporation fees and the absence of a confirmed NBN connection are secondary but worth verifying. The opportunity lies in the property’s rental yield potential – at an estimated $675 per week, the return is solid for the bracket – and in the fact that the corner position and double glazing are durable differentiators that should hold value in a resale.
Detailed Independent Property Report prepared by PropCred Analyst team for 406/132 Burnley Street, Richmond VIC 3121
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Richmond is a suburb undergoing significant urban renewal, attracting a young professional demographic with its high-density living and major infrastructure projects. Demand is driven by childless couples and professionals, creating a robust market where units are transacting faster than houses. Recent price trends show stability in houses but stronger momentum in the unit sector. Future growth is anchored by substantial public transport upgrades and precinct revitalisations, though the market’s sensitivity to mortgage costs remains a consideration given the high proportion of indebted owners.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
9m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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