3/26 Hewitt Street, Colac VIC 3250

Modern 3/2 townhouse configuration | Larger than typical unit land | Rare family-scaled unit in older suburb | Proximity to schools | Clear overlay position This unit presents a competitively strong proposition due to its configuration, which is rare for the Colac market. The three-bedroom, two-bathroom format with two parking spaces on a 279-square metre strata title offers a modern, low-maintenance living arrangement that directly serves families or upsizers seeking more space and contemporary amenities than the prevalent pre-1940s housing stock typically provides. Its land size, while smaller than a standalone house, is substantial for a unit, suggesting better outdoor space and positioning it above entry-level stock. This property best serves buyers seeking a turnkey solution in a central location with reliable utilities, avoiding the renovation burden common to the area’s older houses, and capitalizing on steady rental demand for larger, modern dwellings. The primary decision hinges on valuing a scarce configuration against a market dominated by period houses. The key risk is establishing its value without direct comparable sales, relying on inference from a fundamentally different nearby house sale. This necessitates a premium over the recent $290,000 sale for 3 Hewitt Street, justified by the extra bedroom, bathroom, and modern build, but the final cost must be disciplined against the ceiling of local buyer capacity. The commercial opportunity lies in securing a property that matches growing demand for modern, efficient homes in regional centres, offering strong rental appeal and capitalizing on the scarcity of such stock. Proceed with an offer that reflects its functional superiority over older houses, but anchor it to demonstrable local price thresholds for three-bedroom homes. Recent comparable sales nearby provide context: – 3 Hewitt Street (house): Sold for $290,000 in September 2024. This is a 2-bedroom, 1-bathroom house on 789m². – 3 Hewitt Street (house): Sold for approximately $142,500 in 2013. This sales history indicates a rising market for well-located land, but the target unit, with its modern three-bedroom, two-bathroom configuration, should command a significant premium over the recent $290,000 sale, as it appeals to a different, potentially deeper pool of buyers seeking modern amenities over land size.