1809/200 Spencer Street, Melbourne VIC 3000

High-rise level 18 | Docklands/Bay balcony | Southern Cross Station proximity | young renter demand 85% 20-39 The property is competitively positioned by its extra-large balcony and direct bay views, a rare configuration in a high-density tower that commands premium rent. Located opposite Southern Cross Station, it serves a transient professional or student demographic, with 85% of the local population aged 20-39, ensuring consistent tenant demand. The building’s 60% owner-occupier ratio suggests stable management, and the recent comparable sale at $600,000 indicates price support. The primary risk is the building’s age, as post-2004 construction may carry higher strata fees, and the 40% renter split could lead to turnover costs. However, the $535/week recent lease suggests a conservative 4.3% gross yield, with potential upside if the market lifts. The unit is best held for rental income, not short-term flip, given the building median of $540,000.