1/5-9 Grant Street, St Albans VIC 3021

2-bedroom unit | St Albans | 166m² land | first-home or downsizer appeal The property’s key advantage is the 166m² land holding on a single title, which is uncommon for a unit in this price bracket. Combined with the 79m² floor area and a separate lounge, the layout offers genuine separation of living spaces—rare in entry-level apartments. The configuration suits first-home buyers seeking a foothold with land value, or downsizers wanting single-level living without strata complexity. The recent listing refresh suggests motivated selling, which may create negotiation room for a buyer prepared to act decisively. The principal risk is the absence of recent comparable sales data within the immediate complex, making precise valuation dependent on the agent’s Statement of Information. The 2015 purchase price of $253,000 implies substantial capital growth, but the current guide of $480,000–$520,000 may already price in that trajectory. A buyer should commission a building inspection for a unit of this age and verify body corporate records for any special levies. The opportunity lies in the land component: holding this property for medium-term capital appreciation while renting it out could outperform a standard apartment investment. For an owner-occupier, it functions as a low-maintenance base with scope to add value through cosmetic updates.