1106/241-243 City Road, Southbank VIC 3006

Flood overlay | 57% owners held 10+ years | yields 6.75-8.71% | 2 bed 2 bath corner unit This corner apartment carries a flood overlay that may affect insurance and resale, a risk you absorb as buyer. Given 57% of owners held over a decade, long-term ownership appears viable, but recent sales show modest growth or declines—this is not capital growth territory. Your return comes from yield, not appreciation. The unit suits a buyer seeking stable rental income, not flipping or rapid equity gain. The 2 bed 2 bath plus study layout in Mainpoint, built circa 2013, offers rare light-filled corner exposure in a precinct with Woolworths, Crown, and South Melbourne Market walkable. Parking included improves desirability for renters. This property serves investors or owner-occupiers wanting low-maintenance city fringe living with solid rental demand, but you must accept limited capital upside. Sales in this complex show a 2 bed 2 bath unit sold recently for around $555k with 6.75% yield, while a similar 2 bed 2 bath fetched $535k in 2019. Your target price should sit between these, aiming for 7-8% return to offset flood-related insurance costs. Speak with your conveyancer about flood overlay terms and run rental yield projections at your offer price to confirm the numbers work before committing