1407/470 St Kilda Road, Melbourne VIC 3004
1407/470 St Kilda Road, Melbourne VIC 3004
Top-floor 2-bed apartment | Albert Park Lake views | Leopold building, St Kilda Road | Strong rental yield potential | Premium inner-city amenity
This apartment holds a genuine competitive edge in the St Kilda Road corridor. The top-floor position delivers uninterrupted lake and city-oriented outlooks, which are scarce among the area’s older, lower-level stock. The 2012-built Leopold building offers a modern finish—stone benchtops, gas cooktop, dishwasher, split-system heating and cooling—plus resident lounge and gym access, making it a low-maintenance, secure option. It suits downsizers seeking park proximity and professionals wanting quick CBD access, while the configuration appeals to investors given the building’s demonstrated rental demand and yield signals above typical inner-Melbourne levels.
Value may be shaped by the property’s lack of confirmed parking, which could narrow appeal to car-free buyers or those willing to pay separately for a space. The reported flood overlay on the underlying parcel may affect insurance costs or long-term resilience considerations, though no immediate development risk is evident. The 14th-floor exposure to St Kilda Road suggests potential traffic noise, balanced by the view orientation. Buyers might weigh the non-residential land classification—likely a data quirk—against the apartment’s clear residential use, and should verify building management fees and any special levies before committing.
Detailed Independent Property Report prepared by PropCred Analyst team for 1407/470 St Kilda Road, Melbourne VIC 3004
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Melbourne’s 3004 covers the CBD and inner city, a high-density unit and apartment market. Demand comes from upgrading professionals, first-home buyers, and returning international students, drawn by proximity to jobs, transport, and education. House median is $1,015,000, up 5.5% annually; unit median $642,431, up 2.7%. House sales are 17.8% above the five-year average, clearance rates 67% in October 2025, with a 1.4% vacancy rate and listed stock 21% below five-year norms. Growth is supported by easing rates, better affordability than Sydney, and positive interstate migration. Risks: stretched affordability, listings up 30% month-on-month and 18% year-on-year in October, and new listings 17.5% above last year, pointing to price moderation despite constrained supply.
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PropCred Estimated Value
Comparable Sales: 1401/470 St Kilda Road sold $800,000 (2/2/1); 511/470 St Kilda Road sold $570,000 | Property Price Band: $650,000–$750,000 | Value Drivers: Top-floor position, lake views, building amenities and rental yield potential
Bedrooms
2
Bathroom
1
Parking
1
Land
2127m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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