101/3 Norfolk Road Surrey Hills VIC 3127

Luxury main suite in boutique block | Surrey Hills Primary catchment | High-clearance suburb unit market | Building with recent resales This apartment presents a competitively strong offering within a high-demand suburb, distinguished by its three-bedroom configuration and premium owner-occupier finishes, including a luxurious main suite. It serves families or professionals seeking established school catchments and a low-supply market, where 100% auction clearance indicates robust competition for quality stock. The property’s position in a small block with recent resales provides tangible transaction evidence, a relative rarity. Primary risk involves the significant price premium over both the building’s two-bedroom comparable and suburb median, demanding precise valuation. The opportunity lies in securing a scarce larger format unit in a consistently strong market. Acquire for long-term occupation to amortize the entry cost; investment yield is secondary. Our analysis provides the specific valuation modelling and strata due diligence required to justify this premium and mitigate overpayment risks. A direct comparable in the same building, apartment 102/3 (2 beds, 2 baths, 1 car), sold for $1,250,000 in November 2024. This transaction, achieving solid growth from its 2021 purchase, establishes a credible floor value. It sharply frames the subject property’s premium ask, attributing it primarily to the third bedroom and second parking space.