151 Lennox Street, Richmond VIC 3121
151 Lennox Street, Richmond VIC 3121
Single-level architect-designed house | Two ensuite bedrooms each with private courtyard access | Tightly held since new in prime Richmond pocket | Premium Miele kitchen with spotted gum floors.
This property offers a rare configuration in inner Richmond: two generous bedrooms each with their own ensuite and private courtyard access, effectively functioning as a dual-master layout. The single-level design with curved walls and open-plan living flowing to an entertainer’s courtyard creates a genuinely low-maintenance footprint that suits downsizers or empty nesters seeking privacy without sacrificing space. The single ownership history since 2008 signals a well-maintained house with no rental wear, and the off-street parking via sliding gate adds practical scarcity in this precinct.
The heritage overlay imposes constraints on future alterations, which limits expansion upside but also protects the surrounding character and suppresses land value speculation—this property’s value lies in its liveability, not redevelopment potential. The absence of flood or bushfire overlays is a minor operational advantage. For an owner-occupier, the dual-courtyard layout and study nook provide genuine daily utility; for an investor, the $1,280pw rental estimate reflects strong demand from professionals or couples. Hold as a long-term lifestyle property or stable income-producing house in a tightly held pocket.
Detailed Independent Property Report prepared by PropCred Analyst team for 151 Lennox Street, Richmond VIC 3121
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Richmond is a suburb undergoing significant urban renewal, attracting a young professional demographic with its high-density living and major infrastructure projects. Demand is driven by childless couples and professionals, creating a robust market where units are transacting faster than houses. Recent price trends show stability in houses but stronger momentum in the unit sector. Future growth is anchored by substantial public transport upgrades and precinct revitalisations, though the market’s sensitivity to mortgage costs remains a consideration given the high proportion of indebted owners.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
231m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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