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5/56 Nicholson Street, Essendon$400,000

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5/56 Nicholson Street

Essendon, VIC 3040, Australia

$400,000

1 bed 1 bath 1 car55 m²

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Listing description

About this property

Expressions of Interest closing 12:00pm Tuesday 2 June 2026 (unless sold prior). One of only a handful in its boutique block where maintenance is meticulous and community is forefront, this turnkey gem proves as attractive an investment as a first home or professional's retreat, directly opposite the green expanses of Windy Hill. Staged by a quiet, leafy cul-de-sac and electric-gated security entrance, the home is a true standout in every respect. Sun streams in from the north to cover a wide-open living/dining domain, stepping out to a balcony great for an evening drink taking in greenery and sunset colours. Modern Smeg and Fisher & Paykel appliances mean a separate kitchen takes entertaining in its stride, while views of the oval, a built-in robe and ensuite/laundry all enhance a sizeable bedroom. Hardwood floors, reverse-cycle heating/cooling, intercom entry, and a secure car space all add to the appeal, while a prestige position places the best of Essendon within footsteps. Essendon Primary and PEGS Junior Boys, Essendon and Glenbervie Stations, the 59 Tram and cafés, restaurants, bars and boutiques across Napier, Fletcher and Rose Streets are all just metres away, while North Essendon Village, vibrant Puckle Street, tranquil Queens Park, St Monica's Primary and zoned Strathmore Secondary College sit nearby.

Property Details

Property Type: apartment
Listing Type: Sold
Bedrooms: 1
Bathrooms: 1
Parking: 1
Land Area: 55 m²
Listed: 2 months ago

Repayment calculator

$1,939/month

$970 /fortnight

Loan $320,000 at 6.10% over 30 years

Upfront costs

Deposit$80,000

Stamp duty$19,070

Conveyancing (est.)$2,000

Total upfront$101,070

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Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Essendon

This 1-bedroom apartment in Essendon, VIC 3040 sits within reach of public transport, local shops and nearby schools. It is listed 38% below the $640,000 median of 51 comparable apartmentswithin 5 km.

Schools near Essendon

Lowther Hall Anglican Grammar Schoolcombined · Prep-12 · Girls
Penleigh & Essendon Grammar School - Essendon Campuscombined
Aberfeldie Primary Schoolprimary · Prep-6 · CoEd
Essendon Primary Schoolprimary · Prep-6 · CoEd
Buckley Park Collegesecondary · 7-12 · CoEd
Islamic College of Sport - North Campussecondary

What's nearby

Glenbervie 1 (train) — 487 m away
GoodYear Auto Care — 415 m away
Unnamed — 593 m away
Five Mile Creek Reserve — 667 m away
Cliff Allison Park — 668 m away

Essendon at a glance

Full suburb profile

Population: 21,240
Median age: 39
Household income: $2,132/wk
Median rent: $380/wk
Median mortgage: $2,275/mo

Source: ABS Census.

Due diligence

Property Report

Lifestyle & access

Schools

7 nearby schools

Catchment: Essendon Primary School

Public transport

10 stops within 1.5km

Nearest: Glenbervie (0.5km)

Traffic

Moderate congestion

Morning (7-9am) and evening (5-7pm) peak hours experience significant congestion on Nicholson Street as commuters travel to/from the CBD. Peak hour traffic can increase travel times by 30-50% compared to off-peak periods.

Noise

Moderate noise

Nearest: road (0.4km)

Risk & safety

Flood risk

Medium

Essendon has medium flood risk due to its location within the Yarra River catchment and proximity to stormwater discharge areas. Parts of the suburb fall within LSIO and scattered Shown Buildings Overlay (SBO) zones reflecting historical inundation from overland flows and drainage congestion. Planners should verify specific parcel flood mapping and consult Melbourne Water before development.

Bushfire risk

Low

BAL: BAL-LOW

Crime profile

average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone - Schedule 1

Moonee Valley Planning Scheme

Nearby development

5 projects nearby

Essendon is experiencing moderate to strong development activity focused on transit-oriented growth around the upgraded Essendon Station and along major corridors like Keilor Road. The area is transitioning from industrial and older commercial uses to mixed-use residential and office development, supported by the Metro Tunnel Project completion and proximity to the CBD. Key opportunities remain in station precincts, former industrial sites, and activity centre intensification.

Heritage

Heritage listed

Essendon is an established inner-western Melbourne suburb with significant Victorian-era heritage character, featuring heritage overlays across much of its residential and commercial core. The suburb contains multiple state and local heritage listings including the railway station and town hall, with conservation areas protecting late 19th and early 20th-century streetscapes. Most properties in central Essendon are likely subject to heritage overlay or character residential controls restricting external modifications.

Sources: Australian Gov open data, OpenStreetMap + StMate AI

Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

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