406/40 Altona Street, Kensington VIC 3031
406/40 Altona Street, Kensington VIC 3031
2-bed, 2-bath, 1-car | Park-adjacent Level 4 apartment | Kensington city-edge | Low-maintenance inner-west living
This apartment’s competitive strength is rooted in its park-facing position within a modern, mid-rise complex on a substantial 2,243 m² site, a rarity in Kensington’s apartment stock. The parkside outlook and Level 4 height provide a light-filled, open-plan living environment that appeals strongly to downsizers seeking a quieter city-edge lifestyle, professionals wanting direct green space access, and investors targeting broad tenant demand. The configuration—two bedrooms with two bathrooms and one car space—is efficient but generous enough for owner-occupier comfort, sitting comfortably in Kensington’s active market where such low-maintenance, well-located units typically attract confident interest from buyers prioritizing convenience and outlook over land content.
Value may be shaped by the building’s age and finishes, which are not fully confirmed but appear contemporary rather than premium; buyers should weigh whether interior upgrades are required or already reflected in the price. The exact compass aspect and balcony dimensions are unverified, and a park-facing unit on Level 4 might carry a slight premium over non-outlook units, though that premium depends on the building’s overall amenity package—gym, pool, or secure entry details are absent. Land content is minimal as a strata unit, so capital growth will track the suburb’s apartment market rather than land appreciation, and any nearby development or zoning changes could affect the outlook or amenity value over time.
Detailed Independent Property Report prepared by PropCred Analyst team for 406/40 Altona Street, Kensington VIC 3031
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
Kensington is an established inner-city suburb with a premium housing market, attracting buyers with above-average incomes seeking its connectivity. Recent demand is evidenced by strong auction clearance rates, though the market shows signs of adjustment with recent quarterly price declines for both houses and units. Future performance will hinge on balancing its inherent locational appeal with sensitivity to broader market conditions and the notable divergence in performance between its house and unit segments.
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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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