701/488 Swanston Street, Carlton VIC 3053

7th-floor Carlton flat | university walk-to | pool-sauna-gym complex | strata on 2789sqm This property occupies a competitive position within Melbourne’s university precinct, offering a 7th-floor flat with shared access to a heated indoor pool, sauna, and gym—rare amenities for this price tier. Its location within 0.7 km of the University of Melbourne and 1.2 km of RMIT ensures consistent rental demand from students and professionals, supported by a recent lease history at $480–$555 per week. For a buyer, the combination of low-maintenance strata living, reliable NBN to the building, and doorstep tram access reduces vacancy risk and supports stable yield in a high-turnover market. The primary risk is the building’s shared 2789m² lot, which may limit individual control over future strata levies or capital works. The property’s recent July 2025 sale at an undisclosed price, followed by a current listing at $280,000–$300,000, suggests limited short-term capital growth. However, the consistent rental midpoint of $515 per week offers a gross yield near 9%, making this a cash-flow-positive hold for an investor. Use it as a long-term rental in a precinct where demand rarely softens.