218/51 Gordon Street, Footscray VIC 3011

Studio in Footscray | student demand location | high turnover history | price below estimate This unit is positioned as one of the cheapest entry points into Footscray’s rental market, sitting within walking distance of Victoria University and major transport. The building’s focus on student accommodation creates consistent tenant demand, and the recent lease at $250/week suggests a gross yield near 10% at current asking price. For a cash-flow focused buyer, that return is rare in inner Melbourne and is the property’s primary competitive advantage. The risk is embedded in the sales history: comparable units have lost value annually for years, and 56% of owners in the building held for three years or less,a sign of weak capital growth and frequent exits. No parking and a studio layout limit appeal beyond the student segment, and resale may take time. The opportunity lies in holding for steady rental income rather than appreciation, and exiting only when the yield premium no longer compensates for flat prices.