303/48 Blenheim Street, Balaclava VIC 3183
303/48 Blenheim Street, Balaclava VIC 3183
Rooftop penthouse | 2 beds/2 baths/2 cars | Built 2018 | 1943mΒ² lot share | Flood overlay | 180Β° city views | Private 2-bed apartment on a shared 1943sqm lot suits professionals or couples prioritising privacy and urban outlook in a residential setting. Positioned as the rooftop unit in a modern 2018 complex, it stands apart with no adjacent apartments, delivering expansive living areas framed by floor-to-ceiling glass and unobstructed vistas from St Kilda to the city skyline. This setup offers practical advantages in light and airflow, uncommon in denser Balaclava blocks, while secure parking for two cars addresses a key urban constraint. The flood overlay warrants buyer diligence on insurance, yet the residential zoning and proximity to schools like St Kilda Primary bolsters everyday usability. Within its street’s boutique strata context, it appeals to downsizers or young executives drawn to low-maintenance luxury over house-scale commitments. Similar recent rooftop units in the area have shown steady rental demand and value retention, reflecting Balaclava’s appeal to inner-city renters amid tight supply. Long-term, the property’s youth and positional privacy underpin holding strength, as modern apartments here outperform older stock in tenant stability and capital growth. Its scale suits flexible lifestyles, from remote work with reliable NBN to weekend escapes without yard upkeep. Overall, this positions it firmly for buyers valuing outlook over land independence in a market favouring premium strata over generic units.
Independent, Unbiased Research Report for this property by PropCred Analyst teamΒ
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Market Insight:
Balaclava occupies a premium inner-Melbourne position between St Kilda and Prahran, attracting a cosmopolitan mix of young professionals, downsizers, and investors drawn by its vibrant cafΓ© culture, arts scene, and outstanding access to public transport. The suburb’s distinctive character Β defined by its historic Jewish community heritage, boutique retail strips, and diverse residential stock from period apartments to contemporary townhouses Β commands consistent buyer interest. Demand is supported by its proximity to the beach, Chapel Street, and major employment corridors, with strong rental demand from a transient professional population underpinning investment returns. Median prices for both houses and apartments have remained robust, with the suburb continuing to outperform broader Melbourne metrics on capital growth driven by its scarcity of stock and enduring lifestyle appeal.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
2
Land
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