3306/61 City Road, Southbank VIC 3006

3306/61 City Road, Southbank VIC 3006
High floor northeast view | Rare affordable entry to Southbank | Strong rental yield potential | Investor or downsizer suited This apartment occupies a high-floor position with a panoramic northeast aspect, a configuration that is both scarce and valued in the Southbank market. The open-plan layout, stone kitchen, and full-width balcony are functional and well-suited to a professional tenant or owner-occupier seeking a central base. The asking range sits at the more accessible end of the precinct, and the estimated weekly rent of $590 suggests a yield in the high single digits, which is competitive for the area. The property serves best as a rental investment or a lock-and-leave city residence for a downsizer or professional. The key risk is the inconsistency in overlay information: flood, bushfire, and heritage overlays appear on some records but not others, which could affect insurance costs and future redevelopment potential. This must be verified before commitment. There is no confirmed parking, which may limit appeal to some buyers and tenants. The opportunity lies in the building’s track record of supporting solid rental demand and the potential to secure a high-floor unit at a price that offers good value relative to similar sales in the tower.
Detailed Independent Property Report prepared  by PropCred Analyst team for 3306/61 City Road, Southbank VIC 3006
Checks found:
Value Risk ✕ 2
Liquidity Risk ✕ 2
Planning Risk ✓
Income Risk ! 1
Execution Risk ! 1
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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

1

Bathroom

1

Parking

-

Land

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