8/82 Grosvenor Street, Balaclava VIC 3183

Freshly renovated | 1-bed apartment | flood overlay | low-maintenance location | strong rental yield This unit presents a competitively strong offering for entry-level buyers or investors, defined by its complete modern renovation within a low-maintenance building. The oversized bedroom and bright, open-plan layout are practical advantages in this segment. Its position in the heart of Balaclava ensures consistent rental demand from tenants seeking walkable amenity, supported by an estimated gross yield near 6.4%, which is robust for the area. The primary decision factor is the flood overlay, which necessitates specific due diligence on insurance premiums and potential future resale perceptions. The asking price range sits notably above the current estimated market value, requiring a buyer to justify the premium solely on the renovation’s quality and immediate occupancy appeal. For an investor, the numbers support a hold strategy targeting rental income; a first-home buyer must weigh the lifestyle convenience against the premium paid. Our property report would ground your offer with a real market valuation, clarify strata health and flood overlay implications, and assess locality risks to secure your position. Recent comparable sales data is not explicitly provided for this specific property, with only a 2015 last sale noted. The analysis references a comparable unit in the same building estimated at $365,000, which, alongside the property’s own estimated value of $347,000-$348,000, suggests the current asking price commands a significant premium for its renovated state.