109/121 Murrumbeena Road, Murrumbeena VIC 3163

2-bed unit | secure contemporary complex | metres to station & village | split-system in bedrooms | European laundry This unit presents a competitively strong proposition for a first home buyer or investor, anchored by its exceptional proximity to Murrumbeena Station and village shops, a rarity that guarantees permanent convenience. The specification, including stone benchtops, engineered timber floors, and a European laundry, exceeds typical unit finishes, positioning it for sustained appeal in a building with evident long-term tenant stability. Its private balcony and dual split-system air conditioning directly address liveability, making it a viable downsizer option, while the secure complex with lift and video intercom mitigates security concerns common in older blocks. The decision hinges on navigating the building’s inconsistent capital growth history, a direct risk to equity build-up. Recent sales data shows performance is highly unit-specific, with some sales recording negative annual growth, indicating you must buy at or below the current asking range to insulate against immediate depreciation. The opportunity lies in acquiring a well-finished unit in a prime location below estimated market value, using the lower entry point to achieve a stronger rental yield. Treat this as a long-term hold to smooth volatility, prioritizing its rental demand fundamentals over short-term appreciation speculation. Recent sales within the building demonstrate varied performance: – Unit 107 (2/2/1): Sold $515,000 (Oct ’25), bought $551,000 (Sep ’17) – Unit 111 (2/1/1): Sold $493,000, 0.32% annual growth over 8 years – Unit 7 (2/2/1): Sold $650,000, 0.90% annual growth over 5 years – Unit 5 (2/2/1): Sold $603,000, 1.13% annual growth over 8 years – Unit 4 (2/1/1): Sold $460,000, -4.47% annual growth over 3 years This dispersion confirms that value is not uniform; your purchase price becomes the critical determinant of outcome, with the $470,000-$495,000 asking range strategically positioned below the Domain estimate to attract competitive interest.