103/105 Westbury Street, Balaclava VIC 3183

2 bed 2 bath boutique block | Carlisle St walkable | flood overlay noted | auction 17 May The property sits in a tightly held boutique block of fourteen, rare for Balaclava where most unit stock is older walk-ups or larger developments. The two-bedroom two-bathroom configuration with secure parking and a storage cage is competitively positioned for owner-occupiers seeking low-maintenance living near Carlisle Street’s amenity, or for investors chasing the suburb’s 4.7 per cent rental yield. Oak floors, Miele appliances and split-system climate control suggest a finish above entry-level, which should hold appeal against newer stock. The flood overlay is the principal risk and will narrow the buyer pool at auction, particularly among lenders who may impose higher equity requirements or slower valuations. That same overlay, however, has likely suppressed the price guide relative to comparable units without it, creating a potential entry point for cash buyers or those with strong deposits. The 2020 sale without disclosed price and the estimated value range of $610,000 to $687,000 indicate limited recent price growth, so this is a hold for stable yield or lifestyle use, not a short-term flip.