3/87 Spencer Street, Essendon VIC 3040

Parkside townhouse, 2-bedroom complex | Reverse-cycle in every room | High-fenced private rear yard | Walk to Buckley Park and tram The property’s strongest buying case is its rare combination of a high-fenced private rear yard and triple stacking sliders that open directly onto it, which is unusual for a 2-bedroom townhouse in this price bracket. The reverse-cycle air-conditioning in every room and the stone benchtops suggest the unit has been upgraded beyond typical complex stock, giving a buyer a finished home without immediate capital outlay. It serves best for a downsizer or professional couple who value low-maintenance living with genuine outdoor space, and who want to be opposite parkland with tram access within a couple of blocks. The 65% owner-occupancy in the six-unit complex also points to a stable, well-cared-for building, which reduces the risk of surprise special levies or management disputes. The primary risk is the 109m² land size, which is small even by townhouse standards and limits any future extension or subdivision potential. The complex’s 35% rental mix, while not alarming, means buyer demand may be more price-sensitive than in a fully owner-occupied block. The opportunity lies in the property’s positioning opposite Buckley Park and near the Maribyrnong River trails, which should keep rental demand resilient if the buyer later chooses to lease it out. The reliable 5G coverage and NBN Hybrid Fibre Coaxial are supporting value adds for remote workers. Hold this property as a low-maintenance home or a long-term rental with a yield that should track the local market’s 29-day average selling time.