1308/154 Cremorne Street, Cremorne VIC 3121

Steady tenant in place | Rare garage parking | Flood overlay present | Top-floor feel likely The property offers a rare combination of a secure 16-month lease at $675 per week and a dedicated garage, which together create a low-risk holding position rarely found in this price bracket. The long lease and consistent rental history signal strong tenant demand and predictable income, making this most suitable for an investor seeking immediate cash flow without vacancy risk. The sun-filled layout and quality kitchen finish provide modest owner-occupier appeal, though the current tenancy limits personal use until 2026. The Land Subject to Inundation Overlay is the primary risk, potentially affecting insurance costs and future re-sale pool, though no flood events are documented for this specific building. The heritage overlay adds development constraints, but for a single apartment buyer this is largely irrelevant. The opportunity lies in the below-market fixed rent—renewal in 2026 could see a 5-10% uplift, improving yield. With Melbourne’s 78% auction clearance rate and strong nearby sales volume, exit liquidity appears reasonable for this segment.