4/589 Nepean Highway, Bonbeach VIC 3196
4/589 Nepean Highway, Bonbeach VIC 3196
2-bed apartment, 2015 build | timber floors throughout | split-system climate control | carport included | beachside suburb convenience
This property holds a clear competitive edge for buyers wanting a modern, low-maintenance unit in a beachside suburb without the premium attached to larger houses or townhouses. The 2015 construction means it avoids the maintenance concerns common in older Bonbeach stock, while the timber flooring and open-plan layout give it a clean, contemporary feel that appeals strongly to first-home buyers, downsizers, and investors alike. Its position along Nepean Highway places it within easy reach of the beach, station, and local cafes, which broadens its appeal across different buyer types. For someone seeking a straightforward, move-in-ready apartment with parking and efficient climate control, this unit delivers exactly what is expected without unnecessary complexity.
The value picture may be shaped by a few factors worth weighing. The apartment sits at the smaller end of the local market, so its price ceiling will likely be capped compared to nearby townhouses or houses with more space and outdoor area. Highway frontage might introduce some traffic noise, and the lack of a stated floor level or aspect means the internal outlook and light quality could vary more than expected. The absence of complex amenities keeps ongoing costs modest, which supports rental appeal, but buyers should consider how the unit compares to other 2-bedroom apartments in the immediate corridor when forming a view on price.
|| Comparable Sales: 2/600 Nepean Highway townhouse sold at a materially higher price point; 11/606 Nepean Highway sold June 2025 for $2.58M | Property Price Band: $450K–$550K | Value Drivers: modern build condition, timber flooring, carport inclusion, proximity to beach and station
Detailed Independent Property Report prepared by PropCred Analyst team for 4/589 Nepean Highway, Bonbeach VIC 3196
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
The suburb’s median house price is $1.15M, up 12.2–12.4% yearly, with 45–71 days on market. Units trail at $725–750k, growing 5.5% but down 6% quarterly. Annual house sales of 58–96 point to scarce supply driving competition. Gross yields are 3.2% for houses, 4.1% for units; weekly rents $695 and $572–575. Affordability and unit-market softness are the key risks, with price momentum dependent on continued listing constraints.
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PropCred Estimated Value
Comparable Sales: 2/600 Nepean Highway townhouse sold at a materially higher price point; 11/606 Nepean Highway sold June 2025 for $2.58M | Property Price Band: $450K–$550K | Value Drivers: modern build condition, timber flooring, carport inclusion, proximity to beach and station
Bedrooms
2
Bathroom
1
Parking
-
Land
1041m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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