311/185 Lennox Street, Richmond VIC 3121
311/185 Lennox Street, Richmond VIC 3121
Top floor | one car space | Richmond Hill | 6.8% yield estimate | natural light advantage
This top-floor apartment occupies a rare position in Richmond Hill, where the combination of a dedicated car space and elevated natural light sets it apart from much of the one-bedroom stock in the area. The configuration serves both owner-occupiers seeking a quiet, light-filled base and investors targeting the strong rental demand that comes with inner-city convenience. The estimated rental return of $550 per week implies a gross yield that is notably solid for a property of this type, and the inclusion of parking adds a layer of appeal that often translates into faster leasing and stronger tenant retention. The building’s site of 1732 square metres sits within Yarra Council and carries no detected heritage, flood, or bushfire overlays, which may offer some flexibility for future capital improvements or strata adjustments.
The building age and exact internal finish are not confirmed, which means the final condition of the kitchen, bathroom, and flooring should be inspected closely before forming a price view. The energy efficiency rating of zero raises a practical concern about ongoing utility costs and comfort, particularly in a top-floor unit that may experience greater temperature variation. The absence of confirmed balcony size, storage, or building amenities such as a lift or intercom may affect the property’s appeal to downsizers or those with mobility considerations. These factors, combined with the indicative pricing range, suggest the buyer should weigh the strong location and parking advantage against the potential need for future upgrades or higher-than-expected running costs.
Detailed Independent Property Report prepared by PropCred Analyst team for 311/185 Lennox Street, Richmond VIC 3121
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
2
URL has been copied successfully!
Market Insight
Richmond is a suburb undergoing significant urban renewal, attracting a young professional demographic with its high-density living and major infrastructure projects. Demand is driven by childless couples and professionals, creating a robust market where units are transacting faster than houses. Recent price trends show stability in houses but stronger momentum in the unit sector. Future growth is anchored by substantial public transport upgrades and precinct revitalisations, though the market’s sensitivity to mortgage costs remains a consideration given the high proportion of indebted owners.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
1732m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!