219/20 Queens Road, Melbourne VIC 3004

2-bed, 2-bath, 116m² apartment | Victoriana building, Queens Road | Flood overlay, 5 days on market | Recent comparable sales show price declines. This property offers a rare combination of generous internal space and a prestigious Albert Park fringe address within a luxury building, which positions it competitively against smaller apartments in the same precinct. The 116m² floor plan and separate car space provide a tangible edge for owner-occupiers seeking genuine two-bedroom living without a full house commitment, and the building’s established reputation supports long-term desirability. It best suits a buyer prioritizing space and location over immediate capital growth, as the recent sales data for similar units in the building show consistent annual value declines of 9-26% over short holding periods. The flood overlay introduces a specific due diligence requirement and may affect insurance costs or future resale buyer pools, which should be factored into any offer strategy. The rental yield potential of around 3.3% based on estimated $590 per week is modest for the area, and the building’s recent transaction history signals a soft market for this product type. However, the property’s position on Queens Road with strong connectivity and school zoning provides a stable holding base for a medium-term owner-occupier who values lifestyle adjacency to the park and city, rather than short-term flipping.