2306/50 Albert Road, South Melbourne VIC 3205
2306/50 Albert Road, South Melbourne VIC 3205
2306/50 Albert Road, South Melbourne. A two-bedroom, two-bathroom apartment on the 23rd floor with 66 square metres of internal space and no car parking. The building is a modern high-rise completed before 2010.
This apartment occupies a genuinely high floor in a building that commands sweeping city-to-bay views, which is rare for a compact two-bedroom unit in South Melbourne. The lack of parking is a real constraint, but it also positions the property perfectly for buyers who do not own a car—young professionals working in the CBD or investors targeting tenants who prioritise location over vehicle access. The floor level alone differentiates it from the vast majority of stock in the suburb, which is either low-rise or mid-floor. For someone seeking a light-filled, low-maintenance home with a large balcony and built-in robes, this unit offers a configuration that is both practical and elevated. Its best buyer is someone who values height and outlook over square metres and parking.
The conflicting bathroom count and the absence of parking are the two factors that may most materially affect how this property is priced. If it has only one bathroom, that will narrow its appeal to couples or singles rather than share-house tenants or families, which could compress demand. The lack of parking is a genuine discount relative to comparable units in the same building; recent transactions suggest a parking space can add roughly seventy to eighty thousand dollars in value. On the other hand, a buyer who does not need a car may find this unit offers better value per square metre of living space than any other two-bedroom in the building. The rental yield sits around four percent, which is reasonable but not exceptional, and that gap is almost entirely explained by the parking omission.
Detailed Independent Property Report prepared by PropCred Analyst team for 2306/50 Albert Road, South Melbourne VIC 3205
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
South Melbourne is a tightly held inner-city suburb dominated by high-density living, attracting a broad buyer pool of owner-occupiers, downsizers, and investors. Demand is driven by its proximity to the CBD, education precincts, and lifestyle hubs, with a notable return of professionals and international students. The market is characterised by strong house price growth and a tight rental environment, though unit performance is more moderate. Future growth is underpinned by scarcity of quality stock and sustained migration, yet risks include a potential easing of pressure from rising listings and the inherent supply constraints of a mature locale.
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PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
1
Land
1644m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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