3405/135 City Road, Southbank VIC 3006
3405/135 City Road, Southbank VIC 3006
2 bed 2 bath 1 car on level 34 | WRAP Apartments Southbank | unblocked city views | resort amenity package | investor or owner-occupier appeal
This apartment’s competitive strength lies in its high-floor position with unblocked views, a feature that commands a premium in Southbank’s dense tower market. The two-bedroom, two-bathroom configuration with secure parking is well-suited to both owner-occupiers seeking low-maintenance city living and investors targeting rental demand from professionals. The building’s heated pool, gym, sauna, and concierge add convenience that supports tenant retention and owner satisfaction. The property sits within a well-established precinct close to Crown, the Yarra River, and the Arts Centre, which reinforces its appeal for those who value walkability to entertainment and employment. This apartment is best matched to buyers who prioritise views, amenity, and location over land or space.
The asking price may be influenced by the 2011 sale at a higher figure, though market conditions have shifted since then. The rental estimate of $800–$850 per week could support yield calculations, but this should be verified against current lettings in the building. The absence of a confirmed compass aspect means the quality and duration of natural light throughout the day remain unknown, which might affect perceived value for some buyers. Body corporate fees and any special levies are not disclosed here, so these should be requested to assess ongoing holding costs. The property’s value is most likely tied to its view and floor level, so any future development that blocks sightlines could materially alter its appeal.
Detailed Independent Property Report prepared by PropCred Analyst team for 3405/135 City Road, Southbank VIC 3006
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
2
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
2
Bathroom
2
Parking
1
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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