22/62-76 Cavanagh Street, Cheltenham VIC 3192

Retirement living villa | 190m² land size | modern finishes | community amenities | short stroll to gardens This villa presents a competitively strong proposition within the niche retirement living sector, offering a rare 190m² land parcel that substantially exceeds typical unit footprints. Its modern interior finishes and comprehensive community facilities, including a gym and salon, create a low-maintenance lifestyle specifically engineered for downsizers. The property’s position within a secured community with extensive gardens and a short walk to communal spaces directly serves seniors seeking amenity and social engagement without the burdens of a standalone house. The primary risk mechanism is illiquidity inherent to a tightly held, purpose-built complex, which can constrain resale velocity and buyer pools strictly to the retirement demographic. This is partially mitigated by the property’s above-median size and quality within its category. The commercial logic is capital preservation and yield for an investor, or cost-certain living for an occupant. Acquire to hold for lifestyle, not for speculative gain; its value is sustained by serving a defined demographic need within a balanced suburb. Recent sales within the complex demonstrate a tight value band. Unit 100 sold for $840,000, while Unit 10 is listed from $739,000. This villa’s $850,000 ask sits at the premium end, justified by its larger land component and recent upgrades, but requires validation against final sale prices of these direct comparables to ensure it commands a justifiable premium.