405/5 Wilson Street, South Yarra VIC 3141

2-bed apartment, boutique block | dedicated study, entertainer’s balcony | rooftop terrace with views | competitive entry price for South Yarra The buying case rests on configuration and positioning within a tight price bracket. The dedicated study and expansive balcony are rare in a 66m² two-bedroom floorplan at this level, giving the property a functional edge over standard one-bathroom apartments in the area. The low-rise boutique block with a rooftop terrace adds a lifestyle layer that appeals to owner-occupiers, while the 2014 build avoids the compliance and maintenance issues of older stock. This unit suits a first-home buyer or downsizer seeking a liveable, low-maintenance base in a high-demand corridor, rather than an investor chasing peak yield. The key risk is the wide valuation spread and the property’s previous 223-day listing failure, which signals that pricing must be disciplined. The current $525k–$575k range is below recent automated estimates, suggesting either market softening or a motivated seller,an opportunity if the buyer can negotiate toward the lower end. The land component is negligible, so capital growth will track the suburb’s apartment market rather than land scarcity. Hold this property as a long-term home or a stable rental in a precinct benefiting from the Jam Factory redevelopment; it is not a short-term flip.