505/88 La Scala Avenue, Maribyrnong VIC 3032
505/88 La Scala Avenue, Maribyrnong VIC 3032
4-bed two-level penthouse|5–6 car spaces|~236m² internal|panoramic city views|scarce in Maribyrnong stock
This apartment is defined by its rare combination of size, layout, and parking. A two-level penthouse with four bedrooms and three bathrooms, it is seen as offering space that normally belongs to a detached house, while the 5–6 secure car spaces are almost unprecedented for apartment living. The Lucien complex places it within easy reach of Highpoint, river trails, and public transport, which is considered a major draw for downsizers who want to stay connected without giving up comfort. The buyer profile is typically a high-income owner-occupier seeking low-maintenance living with generous rooms and strong entertaining options, rather than an investor chasing yield.
The achieved price might be influenced by the limited pool of buyers for a premium penthouse in this pocket, and the high car allocation may appeal to a specific household rather than the general market. Financing terms and resale demand could be shaped by building age and exact floor level, while the wraparound balcony and city views are likely to justify a premium to the right buyer.
>> Comparable Sales: 504/86 La Scala Ave sold $1.35M in May 2025; 2-bed units in the same building sold $340k–$755k | Property Price Band: $1.3M–$1.5M | Value Drivers: internal area, car spaces, outlook
Detailed Independent Property Report prepared by PropCred Analyst team for 505/88 La Scala Avenue, Maribyrnong VIC 3032
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Maribyrnong’s housing market is soft, with median house prices ranging from $760,500 to $1.208 million and annual growth negative across all sources, from -0.58% to -11.7%. Units are steadier, with one source showing 5.5% growth and rental yields robust at 5.6% for units and 3.28-3.63% for houses, underpinning investor demand. Rental demand is firm: house rents rose 8.1% and unit rents 4.2% over the past year, with low vacancy rates of 1.45% for houses and 0.93% for units. Buyer confidence has retreated, with auction clearance rates down 10.3 percentage points for houses (to 50.6%) and 20.0 points for units (to 40.0%). Annual house sales volumes vary widely across data providers, from 90 to 132, indicating moderate activity. Price volatility, lower clearance rates, and rent growth point to a market balancing affordability pressures against steady rental demand.
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PropCred Estimated Value
Bedrooms
4
Bathroom
3
Parking
6
Land
2.37 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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