901/162 Albert Street, East Melbourne VIC 3002

901/162 Albert Street, East Melbourne VIC 3002
2-bed 1-bath 1-car | East-facing ninth floor | Former brewery conversion | Rooftop pool and gym | Compact 58m² living The property is positioned as a compact yet well-serviced apartment in a former brewery conversion. Morning light is received from its east-facing ninth-floor orientation, and lifestyle value is added by the rooftop pool, gym, and secure parking. In East Melbourne, where period houses are predominant, this unit is suited to inner-city professionals and downsizers desiring low-maintenance living with CBD proximity. The 58m² area is efficient, though the single bathroom and compact layout may be weighed against larger two-bedroom units in the same complex. Value may be affected by the conversion-era building and heritage overlay, with exterior changes being limited and neighbourhood appeal being maintained. The compact layout and one bathroom might be considered less competitive than larger units, though rooftop amenities are thought to support rental interest. Resale periods could be lengthened by market conditions for similar apartments in the complex.
Detailed Independent Property Report prepared  by PropCred Analyst team for 901/162 Albert Street, East Melbourne VIC 3002
Checks found:
Value Risk 2
Liquidity Risk 2
Planning Risk
Income Risk ! 1
Execution Risk
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Market Insight

East Melbourne remains an exclusive inner-city enclave, yet its market is bifurcated. Professionals aged 30–39 dominate demand, but affordability is pivoting buyers toward units, where the median is $702,900 after a 7.9% annual decline, versus houses at $3,050,000 after an 18.7% slump—one source puts that fall at 31%. Rents remain robust at $1,100 weekly for houses and $623 for units, with a 4.0% unit yield supported by Melbourne’s tight 1.3% vacancy. Supply constraints persist, with advertised stock 21% below the five-year average, limiting downside. Still, high house prices keep that segment acutely rate-sensitive, while the unit market looks better insulated.
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PropCred Estimated Value

Comparable Sales: 906V/162 Albert Street sold for $460k in 2011; 1202/162 Albert Street sold for $710k | Property Price Band: $600k–$700k | Value Drivers: East-facing ninth floor, compact efficient layout, rooftop pool and gym

Bedrooms

2

Bathroom

1

Parking

1

Land

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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