603/135 Abeckett Street, Melbourne VIC 3000

CBD high-rise two-bedder | strong rental yield | no overlays | unrenovated | investor core This unit offers a rare combination of a prime Melbourne CBD location and an 8% gross rental yield, which is notably strong for a two-bedroom apartment in this market. The absence of bushfire, flood, or heritage overlays removes common due diligence hurdles, and the building’s position within a large complex with multiple unit sales provides a transparent comparable base. It suits an investor prioritising cash flow over capital growth, or a first-home buyer seeking immediate rental assistance in a central, well-connected suburb. The primary risk is the unit’s current unleased status, which introduces holding costs and uncertainty around achievable rent in a softening CBD market. The off-market comparable at $378,000 suggests possible overpricing relative to recent transactions, and the lack of parking or balcony reduces appeal to owner-occupiers. However, for a buyer willing to negotiate, the gap between list price and valuation creates a clear entry opportunity, and the strong yield potential offers a buffer against short-term value fluctuations.