3105/241-243 City Road, Southbank VIC 3006

3105/241-243 City Road, Southbank VIC 3006
31st-floor position | Mainpoint complex | 74m² flat | Bay views | Flood overlay detected This Southbank apartment offers a rare combination of high-floor positioning and functional two-bedroom, two-bathroom configuration within a well-established complex. The 74m² floorplate provides genuine living space often absent in newer developments, while the building’s long-term resident majority (57%) signals stable community dynamics and competent management. For an owner-occupier seeking immediate CBD proximity with bay views, or an investor targeting the 6.75-8.71% rental yield range, this unit competes favourably against comparable stock selling in the $530,000-$555,000 bracket. The detected flood overlay represents the primary risk, potentially affecting insurance costs and future resale appetite among cautious buyers. However, the building’s history shows no bushfire or heritage constraints, and annual growth between -3.55% and +0.56% suggests a market that has found a floor rather than declining further. The opportunity lies in the gap between the current listing and the estimated property value range, offering negotiating room for a buyer prepared to address the flood overlay through due diligence on building insurance and strata disclosures.
Detailed Independent Property Report prepared  by PropCred Analyst team for 3105/241-243 City Road, Southbank VIC 3006
Checks found:
Value Risk 2
Liquidity Risk
Planning Risk
Income Risk ! 1
Execution Risk 2
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Market Insight

Southbank is a central Melbourne unit-dominated market with strong connectivity, where investor-driven demand for apartments underpins a stable rental environment. Recent price trends reflect a softening market with moderate sales velocity, indicating a period of price adjustment. Future growth is linked to its established infrastructure, though key risks include the potential for oversupply and sustained price sensitivity in the unit segment.
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PropCred Estimated Value

Bedrooms

2

Bathroom

2

Parking

1

Land

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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