3008/151 City Road, Southbank VIC 3006

flood overlay risk | heritage overlay restricts change | east-facing limits afternoon light | 62m² tight for resale This property carries a flood overlay and heritage overlay, which narrow buyer pool and increase insurance costs. The 62m² internal area is undersized for the market, limiting future capital growth. East-facing balcony offers morning sun but no afternoon light, reducing appeal for owner-occupiers. If held as an investment, the 7.9% rental yield from $780pw supports positive gearing, but resale may struggle against newer stock. Do not buy for short-term gain; use only for stable rental income with realistic hold period of five years or more. Competitively, the 30th-floor corner position with unobstructed Botanic Gardens and MCG views is rare at this price point. The complex’s 24-hour concierge and indoor pool add lifestyle security for downsizers or professionals. Double glazing and ducted heating/cooling improve livability in a high-rise context. This unit best serves a buyer prioritizing steady rental return over appreciation, or a cash buyer seeking low-maintenance city living. The key is to negotiate below the $510k midpoint to build equity from day one, then let the yield work for you. Compare against the $540k sale of 2208/151 and $525k value of 3308/151. Both settled within past two years. This listing sits below both, suggesting room to bargain. If you secure around $500k, you lock in a yield above 8% with minimal competition. To proceed, request a full flood overlay report and heritage overlay impact statement from the vendor, then submit an offer conditional on both.