1013/1 Warde Street, Footscray VIC 3011

High-floor unit in landmark building | Strong rental yield for investors | Recent negative growth trend | Suits first home buyers or professionals This unit offers a rare high-floor position within a prominent, architect-designed building, providing a competitive edge in Footscray’s evolving market. Its primary strength is the compelling rental yield demonstrated by comparable units, positioning it as a cash-flow positive proposition for investors or an affordable entry point for owner-occupiers seeking inner-city accessibility. The property is best suited to buyers prioritising immediate income or modern convenience over short-term capital appreciation. The decision hinges on accepting the clear price risk evidenced by recent sales, where comparable units have consistently transacted below their purchase price. This establishes a market reality of value erosion, costing buyers equity. The commercial logic lies in leveraging the high rental yield to subsidise holding costs while awaiting broader suburb growth. Acquire this property as a long-term hold for its income, not for near-term resale. Recent sales in the building show a clear trend: – Unit 1101 (1-bed): Sold for $405,000 after 2 years, -5.88% annual growth. – Unit 208 (1-bed): Sold for $370,000 after 6 years, -2.47% annual growth. – Unit 705 (2-bed): Sold for $475,000 after 5 years, -1.79% annual growth. – Unit 806 (3-bed): Sold for $605,000 after 6 years, -1.90% annual growth. This pattern confirms building-wide value pressure, making the estimated $369,000 valuation for Unit 1013 credible but requiring an offer below this to account for the established downward trajectory.