502/10 Martin Street, St Kilda VIC 3182
502/10 Martin Street, St Kilda VIC 3182
Top-floor penthouse | 3 bed, 3.5 bath | one car space | city and bay outlook | New York-inspired interior
A rare position is held within St Kilda’s design-led apartment stock. The three-bedroom, 3.5-bathroom configuration is considered generous by local standards, and the top-floor perch is used to full advantage by city and bay views across the skyline. It is set apart from the older walk-ups and warehouse conversions nearby by a New York-inspired interior. This scale is not commonly offered in the SK1 development. A downsizer or design-focused owner-occupier is best served here, with beach, shops and trams within walking distance. Proportion, outlook and architectural character are prioritised over conventional house-and-land living.
Value may be influenced by the surrounding mixed-use zoning, which could be seen as convenient or slightly compromising for street-level atmosphere. The single car space might be viewed as limiting for dual-parking expectations. Overall cost may be affected by outgoings in a boutique development, and most of the perceived value is likely to be carried by the outlook.
Detailed Independent Property Report prepared by PropCred Analyst team for 502/10 Martin Street, St Kilda VIC 3182
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
1
URL has been copied successfully!
Market Insight
St Kilda’s inner-city Melbourne position and direct tram, train and road links to the CBD underpin a bifurcated market. Investor-led unit demand is strong, with 626 unit sales over the past year, drawn to gross yields near 5.67%. House buyers are higher-income, facing median prices of roughly $1.56–1.65 million. Price trends diverge: house growth ranged from 0.7% to 3.5% across sources, while unit prices declined between 1.3% and 3.8%. Rental demand is firm, with house rents up 5.4% and unit rents up 4.8% annually, though house rents vary widely by source. Units remain the affordable entry point, but high supply limits capital growth. School catchments are adequate. Affordability and interest-rate sensitivity are the key constraints.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: two-bed unit in the street sold near $450K; renovated two-bed warehouse townhouse in the same pocket sold near $1.1M | Property Price Band: $1.4M–$1.5M | Value Drivers: top-floor position, panoramic outlook, three-bedroom layout
Bedrooms
3
Bathroom
3
Parking
1
Land
404m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!