12 Mclennan Street, Apollo Bay VIC 3233

asking $925k | valued $750k | land 847m² | rental yield 3.58% The listing price sits $175k above the mid-range estimate, and the rental return of $515 per week at a 3.58% yield is thin for a coastal market. With no bushfire or flood overlays, the core risk is a buyer paying a premium for features like a pool and shed that may not be recoverable at resale. The 1960 build on a large block offers a land-banking opportunity, but the structure needs capital planning for updates. This property should be held for a minimum five-year term to justify the entry price against a conservative valuation. What makes this house competitive is the north-facing private garden with fruit trees and a timber deck, rare in Apollo Bay for a sub-$1m property. The proximity to Apollo Bay P-12 College and the NBN connection improve liveability for families. It serves best a buyer seeking a lifestyle hold with a future subdivision potential on the 847m² lot. To proceed, secure a independent building inspection focused on the 1960s structure and review recent comparable sales for the immediate street before negotiating.