4311/618 Lonsdale Street, Melbourne VIC 3000

7.2% gross yield | below recent comparable sale | 2/2/1 CBD apartment | strong rental growth | pool & gym This property presents a rare yield advantage in a building where comparable two-bedroom stock recently traded above the current asking range—specifically unit 4108 at $655,000 with a $820 weekly rent. With a guide starting at $580,000 and an estimated rental return above $830 per week, the gross yield of 7.2% positions it well above typical CBD apartment returns. The 70 square metre floorplan with two bathrooms and a parking space appeals strongly to professional tenants, and the building’s amenities including pool and gym support that demand. It is best suited for a cash-flow focused investor, or an owner-occupier seeking a lower entry point into a full-featured city tower. The principal risk is the broader supply overhang in the Melbourne CBD market, which can mute capital growth and pressurise vacancy during softer periods. The rent increase from $700 to $830 in two years is impressive but may not repeat; underwriting at $770 per week gives a still-attractive 6.9% yield at the midpoint of the price guide. Opportunities lie in negotiating toward the lower end of the range, where the effective yield exceeds 7.4% and provides a comfortable buffer against rate moves. Hold this property for its cash-flow; treat it as a long-term income generator, not a capital-appreciation play.