12/980 Lygon Street, Carlton North VIC 3054

1980s low-rise complex | heritage overlay | tightly held pocket | Princes Hill school zone | FTTP NBN This unit presents a competitively priced entry into a well-regarded, tightly held pocket of Carlton North, directly within the sought-after Princes Hill school catchment. Its position in a 1980s complex with shared, substantial land is typical for the area, offering a lower-maintenance proposition that aligns with first-home buyer or investor profiles. The heritage overlay confirms the established neighbourhood character but necessitates council approval for external alterations, a standard constraint for this locale. The recent comparable sale within the same building at a higher price point underscores the complex’s consistent appeal. The primary decision rests on accepting the trade-off between the heritage-controlled, shared-title structure and the secured location and schooling advantages. The recent rental of an identical unit demonstrates clear investor demand, providing a logical exit or income path. Acquire this property as a long-term hold to benefit from land scarcity in the zone, not for speculative value-add through renovation due to overlay restrictions. It serves as a straightforward, lower-volatility proposition in a stable inner-suburban market. Recent sales within the same complex provide a direct value benchmark: – 20/980 Lygon Street sold for $360,000 in August 2025, and was subsequently advertised for rent at $420 per week. – 6/980 Lygon Street sold for $401,000 in 2024. The listing price of $375,000 positions this unit appropriately between these comparables, suggesting market alignment without immediate discount. The achieved rent on Unit 20 indicates a viable gross yield, reinforcing its investment logic.