506/205 Burnley Street, Richmond VIC 3121
506/205 Burnley Street, Richmond VIC 3121
| 130m² internal | United building | dual sale/rent marketing | strong yield potential | no overlays |
This unit offers an uncommon internal footprint of 130m², which is materially larger than most two-bedroom apartments in Richmond and creates a rare configuration edge for a buyer seeking space without moving to a house. The United building is established and well-regarded, and the absence of bushfire, flood, or heritage overlays simplifies due diligence. The property suits an owner-occupier wanting genuine room to live, or an investor targeting a 5.8% gross yield from a single secure car space and split-system air conditioning. The dual marketing for both sale and rent signals either a motivated seller or a strategy to test demand, but the rental estimate is supported by active listings.
The primary risk is the 2015 purchase price of $699,000, which sits above the current indicative range and suggests potential vendor resistance or a softening market for this unit type. The strata title on a 2624m² lot means buyers should commission a strata report to check for special levies or sinking fund adequacy. The opportunity lies in negotiating below the 2015 level, given the property has been listed for some time and is also advertised for rent. The FTTP NBN and 5G coverage are supporting conveniences, not deal-makers. Hold this property as a long-term residential holding in Yarra City, where land-constrained supply supports capital stability, and rent it out if personal use is deferred.
Detailed Independent Property Report prepared by PropCred Analyst team for 506/205 Burnley Street, Richmond VIC 3121
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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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.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
2624m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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