3/38 Arnold Street, South Yarra VIC 3141

ground-floor Art Deco one-bedroom | boutique nine-unit complex | light-filled renovated interiors | rear position for quiet This property offers a rare combination of boutique Art Deco character and a thorough renovation that preserves original proportions while delivering modern finishes. The ground-floor position in a small complex of nine units provides a level of privacy and exclusivity not common in larger blocks, and the rear positioning reduces street noise significantly. For a buyer seeking a well-located, low-maintenance home or a strong rental proposition in South Yarra, this unit competes well against newer developments that lack the same sense of scale and period detail. The primary risk is the absence of a car space in a neighbourhood where parking is tight, which may narrow the buyer pool and affect future resale velocity. The heritage overlay imposes some restrictions on external changes, but the renovation has already addressed the interior. Given the estimated rental yield near $590 per week, the property functions as a solid hold for an investor or a comfortable owner-occupier entry point into a premium suburb. Buyers should treat this as a long-term proposition rather than a short-term flip.