301/21 Riversdale Road, Hawthorn VIC 3122
301/21 Riversdale Road, Hawthorn VIC 3122
Top-floor penthouse | 3-car parking | city views | boutique block | premium Hawthorn
This is a rare configuration for Hawthorn — an original four-bedroom floorplan opened into a two-bedroom, three-bathroom penthouse with three car spaces and a study. That parking count alone sets it apart from almost every apartment in the suburb, and the top-floor position with city views places it in the prestige end of the local market. It suits a downsizer or professional couple who want house-scale living without the maintenance, and who value space, light, and a secure lock-up-and-leave position. The boutique building character means lower density and more privacy than a typical tower, which tends to hold value well in established inner-east locations.
The price position is likely to be shaped by how the opened-up layout compares with more traditional penthouse formats — some buyers may prefer a third bedroom over a larger living area. The building’s age and the quality of common areas are not visible from the listing, so an inspection and a review of strata records may be worthwhile. The three-bay garage is a genuine scarcity factor and may support a premium over comparable two-car penthouses, but the final figure will depend on how the market weighs that against the reduced bedroom count.
Detailed Independent Property Report prepared by PropCred Analyst team for 301/21 Riversdale Road, Hawthorn VIC 3122
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
2
Income Risk
Execution Risk
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Market Insight
Hawthorn remains a premium inner-east Melbourne market, with median house prices around $2.8–2.9 million and units near $558,000–580,000. Demand is driven by affluent professionals and families in finance, tech, and medicine, plus downsizers and university-linked investors. House price trends are mixed: recent annual changes range from -8.0% to +9%, reflecting rate sensitivity and volatility, while units are flat to slightly negative (-2.0% to 0%). Houses sell in 33–42 days. House rents vary widely ($695–$950/week) but units are stable around $550/week, with gross yields of 1.78% for houses and 4.97–5.1% for units. Connectivity via train, tram, Monash and Eastern Freeways, school catchments including Hawthorn Secondary and Auburn South Primary, and proximity to hospitals and universities support demand. However, entry prices above $2.8m limit buyer depth, heritage overlays restrict supply, and premium mortgages raise sensitivity to interest rates.
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PropCred Estimated Value
Comparable Sales: 104/121 Riversdale Road sold $760,000; 301/121 Riversdale Road sold $845,000 | Property Price Band: $2.9M–$3.1M | Value Drivers: three-car parking, top-floor city views, boutique low-density block
Bedrooms
2
Bathroom
3
Parking
3
Land
1423m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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