407/154 Cremorne Street, Cremorne VIC 3121

Spacious 2-bed in tight Cremorne market | flood overlay requires caution | strong rental yield for investors | strata lot with heritage constraints This flat offers a rare size advantage in a suburb where 2-bedroom units average just 55m², giving buyers genuine living space without moving to a house. The 75m² floorplan and dual parking make it suitable for owner-occupiers seeking low-maintenance living near Richmond’s amenity, while the $755pw rental estimate supports a yield above suburb medians. For first-home buyers or downsizers, the configuration avoids the compromises typical of Cremorne’s newer builds. The flood overlay is the primary constraint, likely increasing insurance premiums and limiting future strata modifications. Heritage controls may also restrict external changes, though this protects the complex’s character. The opportunity lies in buying below replacement cost for this size unit in a supply-constrained suburb. Hold for steady rental income or as a long-term foothold in a high-demand corridor.