1/323 Orrong Road, St Kilda East VIC 3183
1/323 Orrong Road, St Kilda East VIC 3183
2 bed ground-floor apartment in a low-rise 1960s block | 1,095 m² shared site in a walkable St Kilda East pocket | scope for renovation in a well-located older building | a 72 m² template suggests solid floorplan size
This property sits within a modest, older low-rise building that is typical of this part of St Kilda East, where established apartment stock trades on generous room sizes and convenient access to retail and transport rather than modern finishes. The ground-floor position with a full-width balcony and split-system heating and cooling offers immediate liveability, while the functional kitchen and central bathroom with bath suggest a layout that suits first-home buyers, investors, or downsizers seeking a value-add opportunity. The building’s 1960s construction and shared 1,095 m² site mean the apartment likely has larger internal dimensions than many newer units, which is a competitive advantage for those prioritising space over newness.
The age of the building fabric and the dated condition of common areas and finishes may influence the property’s value, as buyers should weigh the cost and scope of any renovation against the asking price. The lack of a dedicated car space in this unit could narrow the buyer pool in a suburb where parking is limited, though the proximity to tram and train routes may mitigate this constraint. While the property is in a residential zone with no heritage or flood overlays, the older block’s shared structure means any future capital improvements or body corporate decisions could affect the unit’s appeal and resale potential.
Detailed Independent Property Report prepared by PropCred Analyst team for 1/323 Orrong Road, St Kilda East VIC 3183
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
St Kilda East is an established inner-city suburb positioned for urban professionals seeking proximity to beaches and CBD amenities. Demand is driven by this demographic and investors attracted to solid rental yields for units. Recent price trends for houses show some sensitivity, with a varied performance indicating a stabilising market, while the unit segment demonstrates stronger momentum. Future growth is supported by its enduring locational appeal and transport links, though high price points present an affordability constraint that moderates broader buyer activity.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
-
Land
1095m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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