406/250 City Road Southbank VIC 3006

2-bedroom apartment | Southbank fringe | flood overlay noted | strong rental yield | first-home buyer profile The buying case rests on price positioning within a premium corridor. At the lower end of the market for a two-bedroom in Southbank, this unit offers a rare entry point for first-home buyers and investors seeking sub-$450,000 exposure to the Melbourne CBD fringe. The floor-to-ceiling windows, integrated kitchen, and private balcony are not typical at this price point and improve liveability without premium cost. The tram access and proximity to Crown and South Melbourne Market reduce car dependency, which supports tenant demand. The gym access and secure entry add convenience for owner-occupiers and renters alike. This property best suits an investor chasing a 6.5–7% gross rental yield or a buyer who values walkability over space. The flood overlay is the primary risk. It may affect insurance premiums and resale liquidity, particularly for lenders with stricter flood-zone policies. The buyer should obtain a flood report and insurer quote before exchange. The 2014 last sale date suggests limited recent turnover, which may indicate a quieter building or slower capital growth. The absence of heritage or bushfire overlays is neutral but not a differentiator. The school zoning is functional but not premium. The opportunity lies in holding for steady rental income rather than short-term capital gain. Use this property as a cash-flow-positive hold in a diversified portfolio or as a first step into a high-demand postcode.