2704/318 Russell Street, Melbourne VIC 3000
2704/318 Russell Street, Melbourne VIC 3000
27th floor north-east aspect | Compact two-bedroom with no parking | Views over Carlton Gardens and CBD | Investor-grade rental yield near 7.75%
This apartment’s competitive strength lies in its high-floor position and unobstructed north-east outlook over Carlton Gardens and the city skyline, which is a rarer combination in central Melbourne’s apartment stock. The compact 59-square-metre layout is typical of small two-bedroom units in this precinct, but the elevated view and orientation add a genuine premium that owner-occupiers and downsizers often seek. The property serves best as a low-maintenance city-edge home for professionals or as a rental investment, given the strong rental demand and yield signals from the current lease listing.
Value is most affected by the absence of a car space, which may narrow appeal among buyers who drive regularly, and the compact floor area, which limits family use. The building’s age, condition, and ongoing body corporate costs could influence long-term holding expenses, though no specific issues are flagged in the available data. Buyers should weigh the view premium against these constraints when forming a view on price, as similar apartments without the outlook may trade at a discount.
Detailed Independent Property Report prepared by PropCred Analyst team for 2704/318 Russell Street, Melbourne VIC 3000
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Melbourne’s core is defined by its unparalleled lifestyle proximity and tightening supply, attracting a broad buyer pool of owner-occupiers, downsizers, and investors. Sustained demand is driven by urban renewal, low vacancy rates, and robust sales activity, supporting solid price growth. Future prospects are underpinned by scarcity and gentrification, though affordability pressures and an easing of supply tightness present emerging headwinds for the market’s resilience.
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PropCred Estimated Value
Bedrooms
2
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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