3/8 Manor Street, Brighton VIC 3186

Securing lease until 2027 | cashflow positive ground-floor unit | budget for new bathroom likely needed | no bushfire or heritage constraints. The unit presents a low-risk hold for 15 months due to a fixed lease at a strong yield relative to suburb averages, but the rental income caps upside for an owner-occupier unless the lease is broken. The $805,000 December 2025 sale was below the current asking range, indicating the buyer must absorb renovation costs for the unrenovated bathroom. A professional investor seeking passive income with an exit in 2027 should hold; an owner-occupier should negotiate down to account for lease constraints. This is a rare ground-floor unit in a block near Brighton Beach with a recently renovated kitchen and a large common garden, serving buyers who value walkability to Church Street and top-tier school zones over internal space. The 1700m² shared lot reduces grounds maintenance costs, but the single bathroom limits resale appeal. It suits an investor targeting stable rental yield from a premium postcode, not a family seeking immediate occupancy. Comparative sales: Jul 2008 at $497,500 and Jan 1974 at $20,500 are too dated to inform current value; the Dec 2025 sale at $805,000 with a recent kitchen update provides the best benchmark, implying the current asking price offers limited margin for capital growth in a flat market.