3/140 Hotham Street, St Kilda East VIC 3183

flood overlay present | courtyard over 100sqm | priced below mid estimates | two bathroom ground floor layout The flood overlay is the primary risk mechanism here it increases insurance premiums by an estimated $800 to $1,200 annually and may complicate future redevelopment or resale to institutional lenders. The ground floor position with a massive courtyard offers a rare urban footprint that commands a 10-15% premium over similar sized apartments without outdoor space in St Kilda East. This is a hold and occupy property not a flip the rental yield at $740 per week covers holding costs comfortably but capital growth will lag the market due to the flood flag. The double bathroom configuration in a two bedroom ground floor apartment is unusually competitive it allows for flatmate rental or guest accommodation without sacrificing privacy which most units in this price bracket simply do not offer. The combination of a secure basement park and separate storage room further strengthens the position for a professional couple or downsizer who values convenience over square footage. The flood overlay is a negotiable defect buyers who act before the auction date and secure a building and pest inspection for drainage compliance can use it to push the final price below $650,000 and build immediate equity.