5 Somerset Street RICHMOND

Comments on 5 Somerset Street RICHMOND

5 Somerset Street, Richmond

Summary line:
739/1000 – a flexible industrial-meets-period Richmond home with soul, studio and strong inner-city appeal. Not perfect, but genuine quality and a smart long-term hold.

POSITION (stronger than it first looks)
- Wide street, good feel – not hemmed in like many Richmond lanes.
- Micro-location beats first impression – better access, amenity and general feel than you’d guess from the map.
- Rear car access – big tick for inner-city: secure parking, great for WFH or small business.

Position feel: Solidly above average for Richmond; not blue-ribbon, but no handbrake either – a good base for future capital growth.

PROPERTY (character + flexibility + a couple of quirks)
- Industrial warehouse behind period front – strong emotional pull for creatives, professionals and families who like something with a bit of edge.
- Living spaces flow well – the home “makes sense” as you move through it; there’s a vibe rather than a collection of rooms.
- No downstairs bedroom / tight staircase – rules out some downsizers and mobility-conscious buyers; a genuine drag on the rating.
- Studio over garage + viewing deck – big value add: WFH, teen retreat, guest zone, or intergenerational space. The deck is more “moments” than everyday, but it’s a little joy button for future buyer competition.

Property feel: A very good, flexible inner-city home with proper studio value; marked down mainly by stairs/no ground-floor bed and limited garden.

PRICE & VALUE (why 739 still says “buy”)
Quote feels light for its appeal – the home has more depth and flexibility than the number suggests.

739/1000 says:
- Well above “average Richmond townhouse”.
- A home you’d fight for at the right level.

- The rating assumes you don’t pay crazy money for the cool factor – but within a sensible range, it’s the sort of property that should resell well because it ticks multiple buyer types (single, couple, family with teens, downsizer, investor).

Price/Value feel:
At quote – very good value. At a pushed but sensible result – still defensible, because the flexibility + character combo is scarce.

What 739/1000 Means in Plain English
Would I buy it? Yes.
Why?
- It feels good when you walk in.
- It works for a lot of different life stages.
- The studio and rear access are genuine advantages, not brochure spin.

Why not higher than 739?
- No ground-floor bedroom.
- Tight stair.
- Not quite in the top street/precinct or with a big family garden that would launch it into mid-800s.