302/40-44 Pakington Street, St Kilda VIC 3182

1 bed, 1 bath, 1 car apartment | 40–42 m² with balcony | Secure parking and rooftop BBQ | Strong rental yield around 7% | Quiet location near Chapel Street This apartment is competitively positioned as compact, modern, and well-serviced, with secure parking and a communal rooftop terrace that lift it above typical older stock. Its size is on the smaller end for St Kilda, but the reverse-cycle heating and cooling, stone benchtops, and European laundry make it a practical lock-up-and-leave option. It serves first-home buyers and investors best, given the lifestyle proximity to dining and transport. Rental demand is supported by the building’s amenities and location, making it a steady performer. Value may be influenced by the apartment’s small internal area, which could limit appeal for couples or those needing more space. The reliance on strata management rather than private land control might be a consideration for some buyers. The strong rental yield signals good income potential, but the lack of private outdoor space beyond the balcony may affect long-term desirability. Buyers should weigh the premium for parking and rooftop access against the compact footprint.