128 Stawell Street, Richmond VIC 3121

Single-fronted Victorian | walk to station and Swan Street | no heritage overlay | move-in ready with period detail This property offers a rare combination of immediate livability and future flexibility. The absence of heritage, bushfire, or flood overlays is a significant structural advantage, giving a buyer the freedom to renovate, extend, or redevelop subject to council approval. The 63% building coverage on a 121m² allotment leaves meaningful rear courtyard space, and the existing high ceilings, original fireplaces, and vaulted kitchen ceiling provide a character base that typically commands a premium in Richmond. The property is best suited to a live-in buyer who values walkability to Burnley Station and Swan Street, or an investor seeking a 4.3% rental yield with capital growth upside in a blue-chip inner-city suburb. The main risk is the tight land size and single-frontage configuration, which limits scope for substantial expansion without a first-floor addition,a costly and council-dependent process. The auction price guide sits above automated estimates, meaning a buyer must underwrite some premium for the overlay-free status and location. Opportunities include modest cosmetic upgrades to lift value per square metre, or a longer-term hold for land banking in a suburb with 1.5% annual growth and strong owner-occupier demand. Buy to live and improve, or rent and hold for steady yield.