20/38-40 Broadway, Bonbeach VIC 3196
20/38-40 Broadway, Bonbeach VIC 3196
This is a two-bedroom, one-bathroom double-storey unit built in 1980, positioned quietly at the rear of a townhouse complex with one dedicated parking space. The rear aspect, double-storey design, and 46-year-old construction define its configuration and character. Located moments from pedestrian beach access in established Bonbeach, this unit suits buyers seeking moderate space in a low-density, leafier coastal strip where older stock is typical.
What is competitively strong is the quiet rear positioning, which reduces street noise and increases privacy – a rare advantage in a complex where front units face Broadway. The double-storey layout offers a sense of separation uncommon in single-level flats, and the “turnkey” finishes imply minimal immediate renovation. This property serves best a first-home buyer, retiree, or small family wanting beach proximity without a premium price; it holds its own in Bonbeach’s mid-range unit market, where 1980s construction is standard and demand is steady but not overheated.
What may materially affect value is the building age – 46 years means maintenance of common areas and plumbing or roofing could surface in the medium term, potentially affecting body corporate fees. The single bathroom and one parking space may limit appeal to families or tenant groups seeking more flexibility. The absence of exact floor area data makes price-per-square-metre comparison opaque, so a buyer should weigh the turnkey condition against the likelihood of future capital expenditure. Opportunities lie in the modest price growth trajectory observed for similar units in this complex, suggesting stable but not aggressive appreciation
Detailed Independent Property Report prepared by PropCred Analyst team for 20/38-40 Broadway, Bonbeach VIC 3196
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
Execution Risk
2
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Market Insight
This suburb presents a compelling investment proposition, anchored by robust house price growth that significantly outpaces the more moderate unit market. Demand is strong, evidenced by brisk sales activity and competitive days on market for houses, suggesting a market led by owner-occupiers seeking established homes. While houses offer solid capital appreciation, units provide comparatively higher rental yields, appealing to different investor profiles. Future growth will hinge on sustaining this momentum amid broader economic sensitivities, with the divergence between house and unit performance being a key market dynamic to monitor.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
1.16 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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