104/657 Chapel Street, South Yarra VIC 3141

Oversized 1-bed unit | Secure car space | Private outdoor area | Prime South Yarra complex | No overlays This unit presents a competitively strong offering within its complex, defined by its oversized layout and private outdoor space, features uncommon in the one-bedroom segment. Its position in a well-established building with a balanced tenure mix and no planning overlays provides a stable, low-hassle entry into a high-demand suburb. This property best serves an owner-occupier seeking a light-filled, low-maintenance home or an investor targeting the strong rental yield evidenced by neighboring units. The primary decision hinges on the price premium for its ‘oversized’ claim, which must be justified against recent sales of larger two-bedroom units in the same building. The opportunity lies in securing a scarce configuration that may appreciate on its unique merits, while the risk is over-capitalizing relative to the broader apartment market in the complex. A disciplined bid, anchored to the one-bedroom comparable at approximately $454k, is essential. This property is a hold for the long term, leveraging its scarcity and rental appeal. Recent sales within 657 Chapel Street provide a clear value framework: – 1-bed, 1-bath unit (105/657): Estimated value ~$454k – 2-bed, 1-bath units: Sold for $740k to $790k – 3-bed units: Sold from $801k up to $1.25m This data signals that the subject property, as an oversized one-bedroom unit, must be priced significantly below the two-bedroom entry point to represent sound value. The wide range in three-bedroom sale prices further indicates that specific attributes like parking and bathrooms command substantial premiums within the complex.