505/109 Inkerman Street, St Kilda VIC 3182

Top floor penthouse in historic complex | 125m² lot with secure parking | Heritage + flood overlays | Central St Kilda lifestyle fit. This two-bedroom apartment on a 125sqm lot in a landmark heritage building suits professionals or couples drawn to urban convenience with private outdoor space. Positioned on the top floor of the iconic former St Kilda Post Office, it delivers elevated living with natural light and expansive views, distinct from ground-level units in the complex. The 125sqm footprint provides practical room for daily use, including a dedicated car space rare in this dense pocket. Heritage overlay preserves its architectural character while limiting major alterations, appealing to buyers who value period authenticity over modern rebuilds. Flood overlay introduces minor risk considerations, yet the site’s established drainage and bayside elevation mitigate most concerns for residential use. Within Inkerman Street’s mix of apartments and commercial spaces, it stands out for its standalone penthouse status, offering quieter separation from street noise. Buyers typically include downsizers or investors seeking steady rental yields around $680 weekly, given strong local demand for two-bedroom units. Similar properties in the area hold value steadily, buoyed by St Kilda’s walkable core and reliable infrastructure like NGN and 5G. Long-term appeal lies in the building’s landmark status and proximity to bayside amenities, positioning it as a resilient hold in a fluctuating apartment market.