16 Park Street, South Yarra VIC 3141
16 Park Street, South Yarra VIC 3141
Art Deco renovation | house-like rarity in Domain Precinct | rooftop terrace with city views | three ensuites and double garage
This is a genuinely uncommon offering for South Yarra. Most of Park Street is older walk-up apartments or compact units, so a renovated Art Deco residence with three bedrooms, three bathrooms, and a double lock-up garage stands apart from the typical stock. The rooftop terrace and city outlook add a lifestyle layer that apartments in the area rarely match, and the finish level—marble, Miele and Smeg appliances, hydronic heating—puts it above what you would normally find in a period home. It suits a downsizer or professional couple who want the prestige address and parkland access without sacrificing space or parking, and who value a lock-and-leave property with genuine character.
The value picture is shaped by a few things. The lack of a stated land size means the property’s footprint is unverified, and that matters for anyone comparing it to a traditional house. The house-like configuration with a rooftop terrace and courtyard may appeal to a narrower buyer pool than a standard apartment, which could limit competition. However, the double garage, three ensuites, and renovated condition are strong practical advantages in a precinct where parking and modern bathrooms are often compromised. Buyers should weigh whether the premium finish and rare format justify a price above the surrounding apartment market, and consider how the rooftop terrace and city views hold their appeal over time.
|| Comparable Sales: 8/109-113 Park St sold $1.045M; 10/29 Park St sold $1.105M | Property Price Band: $1.6M–$1.7M | Value Drivers: renovated condition, double garage, rooftop terrace with city views
Detailed Independent Property Report prepared by PropCred Analyst team for 16 Park Street, South Yarra VIC 3141
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
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Market Insight
South Yarra is an inner-Melbourne prestige market driven by professionals, with 47% of owners mortgaged. House prices have declined 4.9% to 13.97% over the past year, leaving medians between $1,880,000 and $2,050,000 and days on market at 33–40. Units are stronger: median prices rose 0.46% to 3.6%, to $547,500–$570,000, with yields of 5.4%–5.9% and rents around $600–$620 weekly. Demand is supported by CBD proximity, lifestyle amenity, and limited new apartment supply, with 142–149 house sales annually. Key risks are affordability, high entry prices, and forecast rate cuts of 0.50–0.75% by early 2026, which may soften rental demand.
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PropCred Estimated Value
Comparable Sales: 8/109-113 Park St sold $1.045M; 10/29 Park St sold $1.105M | Property Price Band: $1.6M–$1.7M | Value Drivers: renovated condition, double garage, rooftop terrace with city views
Bedrooms
4
Bathroom
2
Parking
1
Land
178m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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