1209/270 King Street, Melbourne VIC 3000

off-market strata risk | yield compression threat | amenities tied to building age | single bathroom limits exit pool This property asks a buyer to accept a single-bathroom layout in a strata building where the amenity pool is the primary pricing lever. The 2015 sold price and current list imply roughly 1.5% annual capital growth over ten years, which is below the CBD apartment median. The $750 weekly rent looks achievable but the yield sits at 7.8% before body corporate, meaning net return likely drops to 5.5-6%. That compresses further if levies rise with building age. A buyer should treat this as a cash-flow hold, not a growth play; the floor is $440k based on recent comparable data, and the ceiling is roughly $510k. What works here is the building’s resort-style offering in a location where similar 2-bedroom units rarely stay on market past three weeks. The furnished status and 5G coverage add operational ease for an investor, while the open car space is a genuine differentiator in the CBD. This suits a buyer seeking a low-touch rental asset with stable demand, especially from professionals or students at Docklands Primary and University High zones. The only way to extract premium is to improve the bathroom or reconfigure storage; otherwise, it’s a hold for income, not equity. For comparable sales, the 2015 trade at $462,000 and a recent high-confidence estimate of $510k to $580k frame a narrow window; this property sits at the low end of that band, meaning price risk is already partly priced in. The next step is to request the body corporate records and a depreciation schedule to validate net yield assumptions before any offer.