8/366-370 Elgar Road, Box Hill VIC 3128

Heritage overlay on title | 300sqm internal on 166sqm lot | Walk to Box Hill Central | Rare townhouse configuration in established complex This property offers an uncommon configuration: a 300sqm internal floorplan on a compact 166sqm lot, which typically signals efficient design and low external maintenance. The heritage overlay adds a layer of certainty about the streetscape and neighbouring properties, reducing the risk of future development overshadowing the unit. The walkable position to Box Hill Central, transport, and the Surrey Dive lake precinct makes it suitable for professionals or downsizers seeking amenity without a car-dependent lifestyle. The king-sized bedrooms and indoor-outdoor flow are genuine differentiators in this price bracket. The heritage overlay is the primary risk: it restricts alterations and may require permits for even minor external changes, which could delay renovations or increase costs. The complex contains 19 townhouses, so body corporate fees and rules apply, and the recent -15.8% suburb growth suggests softer demand. However, the rental yield of 3.5% and median rent of $785pw indicate reasonable income potential if leasing. For a buyer, hold this property as a low-maintenance residence with good walkability, or as a stable rental with a yield that supports holding costs in a flat market.