106/392 Victoria Street, North Melbourne VIC 3051
106/392 Victoria Street, North Melbourne VIC 3051
Boutique 2-bed apartment | 1 of only 17 | low-level unit | 90m² lot | single car space | inner-city North Melbourne
This apartment sits within a small, boutique building that is genuinely uncommon for the area, with only 16 other owners sharing the site. The low-level configuration and 90m² lot are both generous by modern inner-city standards, and the single car space adds rare convenience in a suburb where on-street parking is tight. The built-in robes, private balcony, and central bathroom make for a practical layout that suits owner-occupiers—particularly professionals or downsizers—who want a compact but well-separated home close to the CBD. The building’s established owner-occupier base, averaging 12 years of tenure, signals a stable, well-maintained environment that tends to hold value better than high-turnover investor stock.
The lack of a confirmed construction year or finishes schedule means the property’s condition and renovation history are unknowns that could materially affect its price. A lower floor level and Victoria Street frontage may introduce more street noise than a rear or upper-level unit, which could narrow the buyer pool. The single bathroom, while functional, may be a constraint for couples or small families who prefer a second toilet. Without verified strata fees or shared amenity details, the ongoing cost of ownership remains unclear, and that uncertainty should be weighed when forming a view on price.
Detailed Independent Property Report prepared by PropCred Analyst team for 106/392 Victoria Street, North Melbourne VIC 3051
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
1
URL has been copied successfully!
Market Insight
North Melbourne’s prime inner-city positioning ensures strong demand from young professionals and students, drawn by its proximity to employment hubs and established transport links. This demographic is fuelling a robust rental market with tight vacancy, supporting attractive yields, particularly for units which are experiencing solid growth. While house prices have faced recent headwinds, the suburb’s ongoing gentrification and constrained listings underpin its long-term appeal. Key risks include increasing new supply which may temper price growth and persistent affordability pressures in the higher-priced housing segment.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
90m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!