204/200-202 St Kilda Road, St Kilda VIC 3182

Upper-floor unit in multi-unit complex | Strong rental yield | No overlays | Zoned for St Kilda Primary & Elwood College This unit presents a compelling proposition for an investor seeking a high-yielding, low-maintenance entry into the Port Phillip market. The estimated gross rental yield of approximately 7.8% is notably strong for the area and is supported by a clear rental range. The absence of bushfire, flood, or heritage overlays significantly reduces regulatory risk and holding costs, a distinct advantage. Its zoning for established local schools adds a layer of tenant appeal for small families or professionals. This configuration is best suited for a yield-focused investor rather than an owner-occupier, given the functional one-bedroom layout and its position within a larger complex. Proceed with the understanding that strata governance and financial health are the primary risk mechanisms, requiring a qualified inspection of the strata report; unforeseen levies could erode the attractive yield. The price bracket above the estimated value suggests paying a premium for the current listing, so commercial logic demands negotiation anchored to the lower comparable sales within the same building. The decision is straightforward: acquire only at a price that preserves the yield advantage, treating it as a long-term rental holding while the school catchments support demand. The recent sale history indicates a quick turnover, so due diligence on the building’s condition and strata affairs is non-negotiable. Recent comparable sales within the same building provide a critical value anchor: – Unit 203 (1 bed, 1 bath, 1 car): Similar configuration. – Unit 202 (1 bed, 1 bath apartment): Estimated worth $310,000. These comparables suggest the listed price range is ambitious; a purchase price towards the lower end of the spectrum or below is necessary to align with recent building-specific valuations.