19/1102 Lygon Street, Carlton North VIC 3054

East-facing light-filled unit | rear block positioning | established pre-1980s building | top public school catchments This unit presents a competitively priced entry into tightly held Carlton North, with its east-facing aspect and rear positioning offering relative privacy and quiet within an established block. The configuration is practical for a small household or investor, and its immediate proximity to high-demand government school zones strengthens its appeal to a specific buyer segment seeking long-term location utility over modern finishes. The primary risk is the illiquid market for two-bedroom units, evidenced by a zero percent auction clearance rate, which can complicate both purchase negotiation and future exit. The lack of recent comparable sales within the same building, aside from a notably higher sale six months prior, demands rigorous valuation to justify the price against the current median. Proceed only with a strategy to hold for a full property cycle, leveraging the school catchments for occupancy stability. Our report would pressure-test the $700k comparable, detail building integrity risks in pre-1980s stock, and model locality-specific holding costs. Recent comparable sale in the same building: Unit 10/1102 Lygon Street, an identical two-bedroom, one-bathroom configuration, sold for $700,000 in October 2024. This sale, significantly above the current asking range, sets a strong precedent for achievable value in this specific building, though it requires scrutiny regarding its condition and exact positioning relative to the subject property.