61 Riverside Drive, Torquay VIC 3228

Modern 2016 build | 585m² lot in tightly held pocket | 210m² living with study | Direct beach and trail access | No overlays. This property presents a competitively strong offering due to its modern construction in a low-turnover location, eliminating immediate renovation costs and securing a position in a settled streetscape. Its efficient 36% site coverage and single-level layout on a substantial block cater specifically to downsizers or young families seeking low-maintenance living with private outdoor space, enhanced by energy-efficient solar and split-system climate control. The combination of a study, built-in robes, and a double garage aligns with practical buyer expectations for a permanent residence. Proceed with the understanding that its premium is anchored in location and newness, not yield, as rental estimates imply a sub-3% return, making it a weak investment proposition. The significant variance in automated valuations underscores the necessity for grounded, comparable sales analysis to justify the near $1.5 million ask. This house is a hold for long-term capital growth, not cash flow, suited for a buyer placing primary value on lifestyle immediacy to beaches and cafés. Our report would pressure-test the listing price against true recent sales, verify locality-specific risks, and provide a structured insurance assessment for this coastal property. The agent’s statement of information cites three comparable sales within 5km. Without specific addresses, this suggests the agent is attempting to anchor the price to a broader Torquay market, not immediate Riverside Drive sales, which reinforces the need for independent verification of true ‘like-for-like’ value in this tightly held pocket.