20/481 St Kilda Road, Melbourne VIC 3004
20/481 St Kilda Road, Melbourne VIC 3004
Dual-level penthouse | 360-degree park and bay views | Owner-occupier trophy | Rare size and configuration within its corridor
This is a property defined by its scale and outlook. At over 570 square metres across two levels, it sits in a segment of the St Kilda Road market where very few apartments compete. The dual-level layout, direct lift access, wet bar, sauna, and formal and casual living zones are not typical of the suburb’s apartment stock, which is dominated by smaller luxury units. This property serves a specific buyer: the high-net-worth owner-occupier seeking a lock-up-and-leave residence with city, park, and bay views, and the space to entertain at a level normally associated with a house. Its position above Fawkner Park and Albert Park Lake, with 360-degree exposure, is a genuine rarity.
The value of this property is most influenced by its narrow buyer pool. Properties at this price point in this corridor trade infrequently, so sentiment and buyer motivation matter more than broad market movement. The 1988 sale date signals long-term ownership, and the absence of recent comparable sales in the immediate area means price discovery is less transparent. The size and configuration may also limit interest from investors, as rental demand at this level is thin. The asking range should be assessed against the cost of replicating this floor area and outlook in a new development, which is likely prohibitive in this location.
Detailed Independent Property Report prepared by PropCred Analyst team for 20/481 St Kilda Road, Melbourne VIC 3004
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Melbourne’s CBD core is a high-density residential hub where renewed buyer momentum is evident. Demand is driven by professionals, upgraders, and first-home buyers, attracted by improving affordability and proximity to major employment and lifestyle amenities. Recent price growth reflects this, supported by a tight rental market and critically low stock levels. Future growth hinges on sustained population inflows and constrained supply, though risks include a potential softening in sentiment and a recent rebound in new listings which could moderate price gains.
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PropCred Estimated Value
Bedrooms
4
Bathroom
3
Parking
2
Land
3035m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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