3/533 Highett Road, Highett VIC 3190

3-level townhouse | Highett Road café precinct | 2 living areas | rooftop deck | 223sqm land This property offers a rare configuration advantage in Highett’s tight market: three levels with two separate living zones and a rooftop deck, effectively functioning as a small house in townhouse form. The 223sqm land component is above average for a modern townhouse, and the full refurbishment removes immediate capital outlay. It sits within the Highett Road retail strip, giving walkability to cafes and shops that typically commands a premium over deeper residential streets. The property is best suited to a downsizer seeking single-level living on entry level, or an investor targeting the owner-occupier demographic that dominates the complex at 60%. The primary risk is the single bathroom, which limits appeal to families and may slow resale in a softer market. The 2022 purchase price is not disclosed, but the guide of $580k–$620k suggests modest capital growth over three years, reflecting the trade-off between location and internal space. The 40% rental mix in the complex may affect lending appetite for some buyers, though the street’s 58% long-term resident base supports stability. The opportunity lies in the rooftop deck and dual living areas, which are undersupplied in this price bracket; these features can justify a premium over comparable two-bedroom flats. Hold as a low-maintenance residence or rent for steady yield, but do not expect rapid appreciation.