3/209 Domain Road, South Yarra VIC 3141

Ground floor garden apartment | Domain Precinct rarity | Botanic Gardens opposite | 70% owner-occupied building This property offers an uncommon combination of a ground-floor garden apartment in a tightly held, predominantly owner-occupied building directly opposite the Royal Botanic Gardens. The 81 sqm layout with direct courtyard access and high ceilings provides a rare configuration advantage in this precinct, where most apartments are upper-level or smaller. The building’s 70% owner-occupancy and long-term resident tenure signal strong community stability, reducing rental turnover risk. This suits a buyer seeking a permanent residence with lifestyle amenity, or an investor targeting premium long-term tenants who value garden access and location over parking. The heritage overlay imposes renovation constraints and may limit future capital improvements, while the single bathroom and communal laundry reduce appeal for some owner-occupiers. The $831,000 estimated value sits above the indicative range, suggesting either upside or a need to negotiate carefully given the 65% auction clearance rate. The 1989 last sale date indicates minimal recent turnover, so condition inspection is critical. For a buyer, this is a hold-and-enjoy property: live in it for its garden and location, or rent it to a professional couple seeking the same, accepting that capital growth will track the precinct rather than outperform.