238/23 Blackwood Street, North Melbourne VIC 3051
238/23 Blackwood Street, North Melbourne VIC 3051
1-bed apartment | balcony | no parking | University High School zone | 7.3% rental yield
A balcony is included, offering private outdoor space that is uncommon in some comparable units. Zoning to University High School is a notable advantage, appealing to buyers who value school catchment. The property is best suited to an investor or first-home buyer looking for a compact, well-located unit in an inner-city suburb with robust rental demand and access to employment and education hubs.
The absence of parking may narrow the buyer pool for those requiring a vehicle. The building’s scale might influence management fees or shared amenity. The rental yield and school catchment are expected to support value, and the lack of detected overlays reduces planning risk.
Detailed Independent Property Report prepared by PropCred Analyst team for 238/23 Blackwood Street, North Melbourne VIC 3051
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
North Melbourne’s prime inner-city positioning ensures strong demand from young professionals and students, drawn by its proximity to employment hubs and established transport links. This demographic is fuelling a robust rental market with tight vacancy, supporting attractive yields, particularly for units which are experiencing solid growth. While house prices have faced recent headwinds, the suburb’s ongoing gentrification and constrained listings underpin its long-term appeal. Key risks include increasing new supply which may temper price growth and persistent affordability pressures in the higher-priced housing segment.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
-
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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