706/8 Garfield Street, Richmond VIC 3121

2-bedroom flat | Richmond heritage zone | shared 3414m² lot | strong rental demand This unit offers something rare in Richmond’s heritage precincts: a two-bedroom flat on a substantial shared lot with a car space, positioning it well against newer apartment stock that often sacrifices both space and parking. The configuration suits either an owner-occupier wanting a foothold in a tightly held pocket near Richmond West Primary School, or an investor chasing a gross yield near 5.4% on current rental estimates. The NBN FTTP and 5G coverage are supporting conveniences, not dealmakers, but they do remove a common objection for working-from-home buyers. The heritage overlay is the primary constraint,it limits external alterations and may slow any future redevelopment play, though for a flat in a multi-unit complex the practical impact is usually confined to paint colours and window replacements. The shared lot means body corporate fees are a given, and the 2014 last sale price suggests limited recent capital growth relative to suburb benchmarks. Still, with 55% owner-occupiers in the area and a school catchment that supports steady tenant demand, this holds well as a long-term hold. Buy it for the position and the parking, not for a flip.