Despite its flood history, The Henry Wong Team® recently sold 8 Balham Road in Rocklea at a premium price at auction. This is a massive result for the southside suburb, showing that buyers see value even in areas carrying the ‘flood-prone’ stigma.
8 Balham is a block of three units on one title, right across from the Bunnings that famously went under in the 2022 floods. The property had also been impacted in 2011. In fact, it hadn’t been occupied in years – and yet, it just sold for $1.491 million under the hammer!
Today we’re going to walk you through the property itself, the marketing campaign and all the excitement on auction day, which was also written about on the Domain website.
A Unit Block with a Story
This property isn’t your standard investment listing. It’s a boutique solid-brick complex with three units: one with three bedrooms, one with two and one with a single bedroom.
Each one of the three apartments is ready to move into, coming with a living space, kitchen, bathroom and balcony. They boast impressive features like timber floors, sharp white cabinetry and matte black tapware. The plumbing and electricals have been redone to an exacting standard – these homes are good to go.
On the lower level, a three-car garage sits astride plenty of storage space. This is the area that was flood-affected in the 2022 floods – the living areas upstairs were unscathed.
The Campaign
We brought the property to market with a clear goal: reach serious investors who are willing to look past flood history if the numbers stack up.
The numbers did stack up, and the investors did sit up and take notice.
In just 20 days on the market, we saw strong inquiry from Brisbane locals and interstate buyers. We were able to show some of them around the property, for those interstate we provide video walkthroughs to give them an idea of the property.
The Brisbane median house price now sits above $1.06 million. For that kind of money, you’re typically getting a standalone house on a regular block. Here, you’re getting three separate income streams in one purchase.
The cashflow appeal is strong… stronger than the flood history it seems!
Auction Day Results
That’s why the auction on Saturday 16 August 2025 delivered a bigger result than anyone expected.
We had:
- 13 registered bidders, including three from interstate
- 51 bids, starting from $800,000
- One very determined underbidder who said “final bid” at least six times
It was fast, tense and competitive. In the end, a local investor signed the contract at $1,491,000. This was well above the reserve.
Why Were Buyers So Interested?
For us, three reasons stand out as to why investors liked the look of this Rocklea property:
1. Rental Return
Blocks of units tend to deliver a better yield than houses at a similar price point. In this case, each unit can be rented separately. On top of that, we even had a prospective tenant offer $1200 a month just to lease the storage space underneath.
2. Fresh Fit-Out
The renovations helped. Everything’s been updated. Buyers don’t have to lift a finger before renting it out. New bathrooms, kitchens, flooring, plumbing, and electrics. Itt’s a turn-key investment.
3. Investor Confidence
Some buyers are willing to trade flood risk for higher returns. Especially if the interiors have never been damaged. Many investors already hold properties with similar flood profiles. It’s part of the Brisbane equation, and they’re factoring it in.
Where to From Here?
This sale shows that stigma doesn’t necessarily write off a listing. Properties with flood history can still achieve strong outcomes, if they’re presented correctly, marketed well and priced in line with potential return.
Brisbane’s rental market is tight. Interstate demand is strong. And unit blocks like this aren’t easy to find. Especially ones already renovated and ready to go.
Need an Experienced Agent Who Knows What Sells?
If you’ve got a property you’re thinking of selling, The Henry Wong Team® would love to chat. We don’t pressure you into anything – you can simply expect honest advice, based on the current market situation. Get in touch here.
