3/49-51 Bay Road, Sandringham VIC 3191
3/49-51 Bay Road, Sandringham VIC 3191
Ground-floor 3-bed 2-car | Portofino resort pool, spa, gym | Downsizer and lifestyle focus | Tight owner-occupier complex | Large 3,424m² site
A three-bedroom, two-car apartment is rarely found within Sandringham’s unit stock, and this ground-floor residence in the Portofino complex presents a combination of size, secure amenity, and low-maintenance living that is difficult to match nearby. The resort-style facilities (pool, spa, gym, lift access) are not typical of the suburb’s smaller blocks, and the large site area is given over to a more spacious, low-density layout. The building is finished to a higher standard than most apartment stock, with Miele appliances, parquetry floors, and stone benchtops. The suburb is established and tightly held, with a strong owner-occupier base, so this property is best suited to downsizers, empty-nesters, and lifestyle buyers seeking bay-adjacent living without house upkeep. The ground-floor position is valued for easy access and private open space.
The ground-floor position may be viewed as a trade-off, offering convenience but lacking the elevated bay outlook of upper-level units in the same complex. Higher body corporate costs might be associated with the shared amenities, and the premium price band could narrow the buyer pool in quieter conditions. That said, the scarcity of this configuration and the quality of the building should support long-term appeal.
>> Comparable Sales: 4-bed Portofino units sold at $1.8M and $2.05M | Property Price Band: $1.3M–$1.4M | Value Drivers: 3-bed 2-car scarcity, amenity quality, ground-floor convenience
Detailed Independent Property Report prepared by PropCred Analyst team for 3/49-51 Bay Road, Sandringham VIC 3191
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
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Market Insight
Sandringham is a premium bayside suburb with direct rail to the CBD; median house prices sit around $2.1 million and units near $725,000. Annual house growth is subdued (from -2.3% to 2.1%); unit growth varies from -6.9% to 2.2%. Demand is driven by affluent families and professionals seeking beachfront lifestyle, strong schools, and commuter access; owner-occupiers dominate. Sales volumes are moderate at 94-120 houses annually, with houses taking 49-70 days to sell. Rental yields are thin for houses at 2.8-3.3%, but units return 4.5-5.2%. Future growth relies on lifestyle appeal and school quality, though affordability constraints, rate sensitivity (auction clearance 44.9%), and limited supply temper upside.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
3424m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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