3/193 Fitzroy Street, St Kilda VIC 3182

First-floor Deco apartment | Directly opposite Albert Park Lake | Heritage charm with modern kitchen | Low energy efficiency This property offers a rare combination of heritage character and a premier park-side aspect that is scarce in the market. The light-filled, two-bedroom layout in a distinctive Deco building directly opposite Albert Park Lake provides a lifestyle premium that appeals to owner-occupiers seeking charm and outlook, or an investor targeting tenants valuing aesthetics and location over modern building performance. Its recent sale price below the suburb median for units indicates a potential entry point for this specific configuration. The very low energy efficiency rating represents a tangible cost and comfort liability, likely requiring future investment. The heritage overlay protects character but may constrain renovation scope. This property is best acquired as a long-term hold to leverage its irreplaceable location, accepting the operational costs of an older building, rather than for short-term gain. It suits a buyer who values unique position over modern convenience.