17/47-49 Caroline Street, South Yarra VIC 3141
17/47-49 Caroline Street, South Yarra VIC 3141
2 bedrooms, 2 bathrooms, 2 car spaces in a 25-unit complex on 1,983 m² of land. Located in South Yarra. Unit number 17 suggests a mid-to-upper floor position.
This unit’s strongest competitive advantage is its two dedicated car spaces, a rare find for a two-bedroom apartment in inner-city South Yarra. The property sits within a well-established, low-rise complex, offering a sense of space and a quieter residential character than many newer high-rise developments. This configuration is best suited to dual-income professionals or small families who need secure parking and value proximity to the CBD, South Yarra station, and parkland. The unit’s position within a 25-unit block, with larger three-bedroom options in the same building, suggests a diverse resident mix and stable demand from both owner-occupiers and investors.
The property’s value may be influenced by its specific aspect and floor level, which are not explicitly confirmed but could affect natural light and views. The building’s age, likely from the mid-to-late 20th century, means finishes and systems may vary from newer stock, so a buyer should consider potential for future updates. The lack of building amenities like a lift or pool is typical for this complex size and is unlikely to deter the target buyer, but it may narrow appeal compared to full-service developments. The 1,983 m² land holding across 25 units provides a reasonable land component, which may offer long-term value stability.
Detailed Independent Property Report prepared by PropCred Analyst team for 17/47-49 Caroline Street, South Yarra VIC 3141
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
South Yarra is a premium inner-city suburb favoured by professionals, with demand anchored by its proximity to the CBD and vibrant lifestyle. Recent market conditions show a divergence, with house prices experiencing a correction while the unit market demonstrates resilience, supported by strong rental demand and limited new supply. Future growth is underpinned by consistent buyer activity and tight rental vacancy, though affordability constraints and sensitivity to interest rate movements present key risks to watch.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
2
Land
1983m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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