404/39 Appleton Street, Richmond VIC 3121

Architectural building | city-view amenity | competitive 2-bed entry | rental yield above suburb median This apartment presents a rare entry point into one of Richmond’s most amenity-rich buildings, The Embassy, where the combination of architect design, sky gardens, and a full health club creates a lifestyle offer that typically commands a premium. The 2-bed, 1-bath configuration places it below the more common 2-bed, 2-bath layouts in the building, which works in a buyer’s favour—it avoids the price ceiling of those comparables while still delivering the same building advantages, including secure parking and storage. The rental yield sits comfortably above the suburb average, driven by strong demand from professionals and downsizers who prioritise location and facilities over a second bathroom. This property suits a buyer seeking a low-maintenance, high-amenity home with immediate rental potential or a solid first home in a tightly held inner-city pocket. The single bathroom is the primary constraint, narrowing the buyer pool and capping capital growth relative to two-bathroom units in the same building, though the gap is partially offset by the building’s exceptional common spaces. Flood and heritage overlays require due diligence but are unlikely to affect a modern apartment on an upper floor. The opportunity lies in holding this property for steady rental income while the building’s reputation and Richmond’s continued gentrification support long-term value. Use it as a lifestyle home or a buy-and-hold rental—either way the building does much of the heavy lifting.