606/238 Flinders Street, Melbourne VIC 3000

CBD studio apartment | Flinders St station opposite | heritage building | young renter demand | furnished ready to live This is a compact entry-level unit in a high-turnover location, where the combination of a low price point and immediate rental demand creates a clear buying case for an investor or a first-time buyer seeking a city base. The new timber flooring and fresh paint remove immediate capex, while the floor-to-ceiling easterly aspect toward Federation Square is genuinely rare for a studio at this price. The building’s communal lounge and study area add a layer of amenity that compensates for the small private footprint, and the resident profile,predominantly young renters,supports consistent tenant demand. The heritage overlay limits future alterations and may slow capital growth compared to newer stock, but it also protects the building’s character and keeps supply constrained. The price sits near the higher end of valuation estimates, so there is limited short-term upside; however, the rental yield of around 440 per week against a 240k purchase price is solid for the CBD. This property is best held as a long-term rental, with the option to live in it yourself if you value walkability over space.