102/47 Porter Street, Prahran VIC 3181

First-floor boutique apartment | 2BR with balcony and secure parking | Prahran market and station walkable | Strong rental yield near 5.5% This apartment offers a rare combination of modern specification and practical positioning in a tightly held inner-city pocket. The open-plan layout with engineered timber floors, stone benchtops, and a large undercover balcony provides a finish that typically commands a premium in this price band. For a buyer seeking low-maintenance occupancy with immediate rental income, the yield range of 5.2 to 5.9 percent is materially above the suburb average, and the recent sale at $590,000 confirms stable demand within the complex. It suits a first-home buyer wanting walkability to Greville Street and Chapel Street, or an investor targeting consistent cash flow from a professional tenant base. The principal risk is the absence of a second bathroom or dedicated study, which may limit appeal to couples or sharers compared to two-bathroom competitors. The land component is negligible, so capital growth will track the suburb’s modest 2.4 percent trend rather than outperform. However, the secure car space, lift access, and proximity to Prahran Station and tram routes reduce vacancy risk. The buyer should hold for steady rental income and treat any capital gain as a secondary benefit.