11/52 Leicester Street, Carlton VIC 3053

3-bed rarity in stable block | long-hold majority ownership | flood overlay present | strong rental yield evidence This unit presents a rare three-bedroom configuration within a building predominantly composed of two-bedroom apartments, offering immediate scarcity value in a tightly held complex. Its larger format serves families or sharers more effectively than the typical local stock, supported by the highly stable ownership base which suggests limited turnover and lower volatility. The established school catchments and evidence of solid rental demand further position it for either a long-term owner-occupier or an investor seeking secure tenancy. The primary material risk is the identified flood overlay, which necessitates due diligence on insurance costs and potential future regulations. The sales data from a comparable two-bedroom unit suggests achievable capital growth, though the premium for the third bedroom remains untested in recent sales. Acquire this property with a long-term horizon, leveraging its scarcity and income potential, but factor flood due diligence into your offer price. It is a hold proposition, not a short-term trade. Comparable sale within the building: Unit 16 (2 bed, 1 bath, 1 car) sold for $740,000. This transaction, after a 31-year hold, demonstrates the building’s solid growth trajectory and supports achievable value for the subject property, with its extra bedroom and bathroom likely commanding a premium.