401/201 Powlett Street, East Melbourne VIC 3002

1-bed, 1-bath, 1-car | 2004 build | resort-style pool and gym | city-fringe blue-chip pocket This apartment is competitively positioned as a low-maintenance, amenity-rich unit in one of Melbourne’s most tightly held inner suburbs. Built in 2004, it offers a secure, lift-accessed floorplan with a private balcony, quality kitchen, and a car space—features that are increasingly rare in this precinct. The property serves best the owner-occupier seeking lock-and-leave convenience near the CBD, Fitzroy Gardens, and the MCG, or the investor drawn to strong rental demand and a yield profile that is supported by the building’s pool and gym. Its configuration is standard for the area’s apartment stock, but the inclusion of parking and a storage cage adds practical edge over many comparable units. The value of this property may be influenced by its age—22 years in 2026—which can mean future maintenance levies for common-area upgrades, though the building’s mid-2000s construction is generally modern enough to avoid major structural concerns. The heritage overlay (HO187) on the lot may limit any future development potential, which could matter for buyers seeking land-value upside. Orientation and outlook are not confirmed, meaning a less favourable aspect could temper price growth relative to units with better light or views. These factors should be weighed when forming a view on price, but they do not diminish the property’s core appeal as a solid, inner-city apartment with enduring demand.