6A Melrose Street, Cremorne VIC 3121

| Cremorne townhouse | rare residential-only street | flood overlay present | study adds flexibility | premium inner-city pocket | This property occupies a genuinely uncommon position: a modern townhouse on a residential-only street in Cremorne, an inner-city pocket where most stock is mixed-use or period. The study and two-level layout serve professionals or downsizers seeking a lock-and-leave base with genuine walkability. The 2003 build avoids heritage constraints while offering contemporary finishes, and the 125m² floorplan is efficient for the price tier. For a buyer prioritising location and low-maintenance living over land content, this represents a defensible entry into a tightly held precinct. The flood overlay is the material risk. It may restrict some lenders, increase insurance premiums, and narrow the buyer pool at resale,costs that must be quantified before bidding. The 138m² lot limits future extension options, so the property should be held as-is. Rental yield at 3.22% is modest but viable for an investor seeking capital growth in a constrained suburb. Best use: owner-occupier in a premium inner-ring location, with flood due diligence completed pre-auction.