13/39 Wellington Street, St Kilda VIC 3182

13/39 Wellington Street, St Kilda VIC 3182
130 m² floorplan | dual car parking rare for the area | strong rental potential | no heritage or flood overlays The sizable floorplan is considered rare for a two-bedroom unit in this part of St Kilda, offering a level of internal space that sets it apart. Dual car spaces add further appeal, particularly for buyers who require secure off-street parking, which is limited in the inner bayside apartment stock. This property is best suited to owner-occupiers such as downsizers or professional couples seeking genuine room to spread out without moving to a house. The consistent rental demand and steady yield potential also make it viable for longer-term investors. The 17-year holding period suggests the current owner has benefitted from capital growth, but the asking price may now reflect a premium for the larger-than-average configuration. The substantial block area could hint at future development or subdivision possibilities, though current zoning does not guarantee this. Rental income is reasonably solid, though the yield sits slightly below the broader market benchmark for similar units, so a buyer focused on rental return should model conservative figures. School catchment coverage adds a layer of family-level demand, but its impact on value might be modest in this price range.
Detailed Independent Property Report prepared  by PropCred Analyst team for 13/39 Wellington Street, St Kilda VIC 3182
Checks found:
Value Risk ! 1
Liquidity Risk 2
Planning Risk ! 1
Income Risk 2
Execution Risk
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Market Insight

St Kilda presents a clear two-tiered market, with its established house segment appealing to higher-income buyers seeking inner-city lifestyle and connectivity, while the high-volume unit market attracts investors and first-home buyers drawn by strong rental yields. Recent trends show modest house price appreciation contrasting with softening unit values, reflecting divergent pressures. Future demand is underpinned by enduring rental growth and its prime location, though high house prices constrain affordability and the substantial unit supply presents a key risk to capital growth in that segment.
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PropCred Estimated Value

Bedrooms

2

Bathroom

2

Parking

2

Land

1022m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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