404/3 Morton Avenue Carnegie VIC 3163

Top-floor penthouse | Carnegie village edge | eastern views | strong rental demand The property’s top-floor position within a security building and its unobstructed eastern outlook are uncommon in Carnegie’s apartment stock, giving it a genuine scarcity advantage for buyers seeking a quiet, light-filled home near the village. Its zoning for two well-regarded public schools and the suburb’s high auction clearance rate suggest steady demand from both owner-occupiers and investors. This unit suits a downsizer or professional who values outlook and walkability over space, or an investor targeting reliable rental yield in a tightly held pocket. The main risk is the limited comparable sales data, which makes precise valuation difficult and may slow resale if the market softens. The conflicting market status across platforms also signals possible listing inconsistency, requiring direct agent confirmation. The 691m² lot is a body corporate share, not exclusive land, so no development upside exists. Opportunity lies in the rental estimate of $650 per week, which at the lower end of the price guide implies a gross yield near 7.5%—strong for Melbourne. Hold this property for steady rental income or as a low-maintenance home, and avoid expecting capital growth beyond the suburb median.