Before
After
Before
After
Hamlyn Heights, Victoria
12/38-40 Pride Avenue, Hamlyn Heights — Investment Property
We acquired this unit at 12/38-40 Pride Avenue, Hamlyn Heights, as our Principal Place of Residence and applied the BRRRR strategy to build long-term wealth from the ground up. Positioned just five minutes from Geelong and the CBD, the location offered immediate appeal for tenants and strong fundamentals for a buy-and-hold approach. After completing a full renovation to modernise the space, the property is now tenanted and generating steady rental income as a long-term asset in our portfolio.
Why Hamlyn Heights?
Hamlyn Heights sits in a sweet spot within the Greater Geelong market. Known for its elevated position on the hills just west of the city centre, the suburb affords residents sweeping views across Corio Bay and is a popular choice for its combination of central access, established charm, and excellent amenity provision. For investors, the unit market in particular stands out: the unit market has demonstrated vigorous activity, with a 9.0% increase in median price over the past 12 months and a gross rental yield of 4.43%, positioning units as an appealing option for investors prioritising stronger capital growth and yield performance. Underpinning it all is a suburb with genuine economic strength: household income in Hamlyn Heights grew by 34.82% between 2016 and 2021, significantly outpacing the state average of 23.96%, pointing to a community with growing financial capacity and sustained housing demand.
Projected Outcome
The renovation has transformed this unit into a high-quality, modern home, delivering a meaningful increase in both market value and rental yield. By holding the property as a long-term rental, we have secured a steady income stream in a suburb where tenant demand continues to outpace supply. With tight supply metrics and properties spending an average of just 31 days on market, Hamlyn Heights rewards patient, well-positioned investors. At Charlie Property, the BRRRR strategy is about more than a renovation. It is about acquiring smartly, adding real value, and holding assets in markets that compound over time.
Strategy
PPR unit BRRRR
Project Status
Tenanted
Strategy
PPR unit BRRRR
Project Status
Tenanted
1 bedroom
1 bathroom
2 car spaces
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Drysdale Project
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We’ve always been the ones who see things as they could be, not as they are, the ones who step outside the crowd and back what others overlook.
Our strategy is simple but unique: we buy properties off market and under value, renovate them, and create clear profit through flips or flip-holds.
While there’s strong demand to partner on our projects, we keep it selective to ensure the right fit both ways.
And beyond the houses and the money, what really matters is building a strong network of like-minded people - a family, in property.
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