2/188 Canterbury Road, Canterbury VIC 3126

Ground-level luxury apartment | Garden aspect over Canterbury Gardens | Boutique block of 8 | Walk to station and shops | Suits downsizer or investor This property occupies a rare position: a ground-floor apartment in a boutique development with direct garden outlooks, effectively functioning as a house alternative. The open-plan layout with undercover terrace, stone and Miele kitchen, and main bedroom with ensuite and walk-in robe competes directly with premium townhouses in the area, but without land maintenance. For a downsizer, this eliminates stairs and garden work while retaining space and privacy. For an investor, the rental yield at $1,250 per week is strong for a $1.5-1.8 million price point, supported by consistent demand for lock-up-and-leave luxury near Canterbury station and Maling Road. The shared block size of 6131 m² provides a green buffer that is rare for apartments. The primary risk is the limited sales history and absence of recent comparable sales within the development, making valuation uncertain within the $1.56-1.87 million range. The 2013 last sale date means no recent price discovery. Buyers should verify body corporate fees and any upcoming special levies, as these can erode yield. The opportunity lies in negotiating below the higher estimate given the 3-day listing period and Expressions of Interest format, which may attract fewer competing offers. Hold this property for stable rental income and capital preservation, not rapid appreciation.