204/94 Stanley Street, West Melbourne VIC 3003

Spacious two-bedroom in West Melbourne | high ceilings and generous floorplan rare for modern apartments | strong rental yield potential | no flood, bushfire, or heritage risk This property offers a genuinely uncommon configuration for a modern inner-city apartment: approximately 71–79 square metres with high ceilings, double glazing, and concrete-brick construction. For a buyer seeking a long-term hold or owner-occupier wanting space near the CBD without a townhouse premium, this unit holds competitive advantage over tighter new-build stock. The rental estimate of $765–$845 per week implies a gross yield near 6%, which is strong for the suburb and positions the property well for an investor targeting reliable cash flow. The absence of risk overlays and the Opticomm fibre connection add low-friction support for both living and leasing. The primary risk is the price range of $640,000–$660,000, which sits near or above the 2019 sale price of $668,000, suggesting the market has not appreciated in seven years. This softness may reflect broader apartment oversupply in West Melbourne or a lack of premium finishes in the building. A buyer should negotiate firmly toward the lower end of the range to preserve equity and avoid overpaying for a flat market. The property suits a buy-and-hold strategy with a focus on steady rental income rather than short-term capital growth.