506D/604 Swanston Street, Carlton VIC 3053

Leafy outlook over Lincoln Square | 2-bed in a high-yield building | Strong investor and student demand | Flood overlay flagged This property offers a rare combination of park-facing position and strong rental yield potential in a building where nearly half the owners have held for over a decade, signalling genuine long-term confidence. The 2-bedroom, 1-bathroom configuration with a car space suits both investors chasing a 6-7% yield and owner-occupiers wanting city-fringe living with a private outlook. Being in the Seasons complex, it benefits from proximity to the University of Melbourne and Lygon Street, which sustains a steady pool of tenant demand from professionals and students alike. The internal size around 55 square metres is competitive for the area and the level 5 position over the park adds a layer of scarcity. The flood overlay is the primary risk and will require specific insurance checks, potentially adding to holding costs, but it has not suppressed recent sales activity in the building. The lack of past sales data for this exact unit means you are buying on building comparables, which show consistent but modest capital growth of around 1.5-2% annually. For a buyer, the opportunity lies in the income return rather than short-term appreciation. Hold this property for yield, treat the flood risk as a due diligence item, and let the location and tenant demand do the work.