4/24 Garfield Street, Cheltenham VIC 3192
4/24 Garfield Street, Cheltenham VIC 3192
4/24 Garfield Street, Cheltenham VIC 3192 is a 1-bedroom, 1-bathroom, 1-car unit/apartment on a 1,137 m² parcel, and it appears to be one of multiple units within a larger older-style residential complex rather than a standalone dwelling. The property was listed for sale on 18 June 2026 as an apartment/unit in Cheltenham.
1-bed unit in established block | 1,137m² site share | parking included | entry-level Cheltenham price point
This unit represents one of the more accessible price points within Cheltenham, a bayside suburb that typically commands higher values for detached housing. Its primary competitive strength lies in the combination of a dedicated parking space and a low-maintenance footprint, which appeals directly to first-home buyers seeking a foothold in the area and investors looking for compact rental stock with broad tenant appeal. The property sits within an older-style, multi-unit complex, meaning the buyer is acquiring a unit that benefits from established landscaping and mature surrounds rather than the rawness of a new development. The configuration is straightforward and functional—one bedroom, one bathroom, one car space—which reduces ongoing upkeep and suits a single occupant or couple. This unit is best suited to those prioritising affordability and convenience over space or premium finishes, and who value being part of a stable, low-rise residential pocket.
The recorded lot size of 1,137m² for the overall site is unusually large for a unit complex, which may indicate a lower site density than typical newer developments, potentially offering more communal open space or less competition for parking. However, this shared land holding also means the unit’s value is tied to the condition and management of the common property. The last sale in 2007 suggests the unit has not been transacted recently, which may mean the interior finishes and fixtures are of an older vintage, possibly requiring updating. Buyers should weigh the asking price against the likely need for cosmetic or functional improvements, as well as any upcoming special levies for common-area repairs. The rental market activity for this unit confirms its lettability, but the exact rental return is not disclosed, so yield calculations should be based on current market rents for similar one-bedroom units in Cheltenham.
Detailed Independent Property Report prepared by PropCred Analyst team for 4/24 Garfield Street, Cheltenham VIC 3192
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Cheltenham presents as a well-established bayside suburb with solid fundamentals, driven by its proximity to beaches, shopping, and transport links. Demand is diverse, supported by healthy rental growth and strong auction clearance rates, indicating sustained interest from both owner-occupiers and investors. Recent price trends for houses show moderate growth, while the unit market is more varied. Key future drivers include its enduring locational appeal, though high house prices present an affordability constraint, and sales volume trends suggest a measured market tempo.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
1137m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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