5/28 Clifton Street, Prahran VIC 3181

2-bedroom apartment, north-facing balcony, Chapel Street precinct, boutique block of 11 | Low-density urban edge with strong amenity access | Suits first-home buyers and investors seeking yield This apartment presents a rare configuration in a sought-after low-density block, where the north-facing balcony and open-plan layout create genuine liveability for a buyer seeking a foothold in the Chapel Street precinct. The 402m² land share and secure car space add structural value, while the 4.9% rental yield signals strong investor demand. It serves best as a long-term hold for owner-occupiers or as a core holding in a portfolio targeting consistent yield. The flood overlay is a material risk that may affect insurance premiums and future resale appeal, requiring due diligence on council mitigation measures. The estimated value of $621,000 sits above the price guide, suggesting limited short-term capital growth. However, the property’s location near Prahran Market and transport infrastructure supports stable demand. Hold for income and lifestyle utility rather than speculative gain.