1/13 Chapel Road, Moorabbin VIC 3189
1/13 Chapel Road, Moorabbin VIC 3189
Two-level flat on 165m² | 3-dwelling block, long owner tenure | 2/2/1 config | $580/wk rent | Public school catchments confirmed
A two-level apartment is offered here, held within a small 3-dwelling building. This configuration is rarely found in Moorabbin’s mostly detached-house market. The 165m² land holding is considered generous for apartment stock, providing space without the maintenance burden of a house. The unit is finished with European appliances, porcelain-tiled bathrooms, and a two-way ensuite, all of which are viewed as above basic investment grade. Long owner-occupier tenure in the building is seen as a sign of a well-run, stable property, and confirmed catchments of Moorabbin Primary School and Cheltenham Secondary College are regarded as practical family benefits. This makes it particularly suitable for first-home buyers, downsizers, and investors wanting a low-maintenance property with genuine rental demand.
Value may be supported by limited supply within a 3-apartment block and a healthy yield estimated from rent of $580 per week. Conversely, the lack of lift access in a two-level layout might be viewed as reducing appeal for some older downsizers, and the building’s mid-2010s or earlier construction may be expected to require periodic maintenance. The school catchments, while confirmed, are not considered prestige, so family buyer competition could be moderate. These factors may be balanced by the absence of flood, bushfire, or heritage overlays, which is seen as lowering insurance and compliance risk.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/13 Chapel Road, Moorabbin VIC 3189
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
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Market Insight
Moorabbin, in Kingston City Council, is served by Cranbourne/Pakenham line stations and Moorabbin Airport, keeping it attractive to professionals. Demand centres on 30-39 year-olds with bachelor qualifications and high household incomes, aided by population growth of 6.65% since 2016 and catchment access to McKinnon Secondary College. House prices have softened: medians sit between $1.226m and $1.3m, with annual growth between -0.16% and -3.69%. Units hold around $740k, though one measure shows 9% growth. Houses average 42 days on market with 77-81 sales over the past year. Rents are $780/week for houses, with yields of 3.4% for houses and up to 4.1% for units. Infrastructure and school quality remain future demand drivers, but affordability pressures, rate sensitivity, and negative price momentum are the key constraints.
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PropCred Estimated Value
A derived value of $527k, increased by 3%, places the price band at $515k to $570k. A same-building 2-bedroom apartment last sold in 2017 at $376k, and this band factors in the growth since that time.
Bedrooms
2
Bathroom
2
Parking
1
Land
165m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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