506/20 Garden Street, South Yarra VIC 3141

Private balcony | light-filled open plan | dedicated study | strong rental demand | secure building with lift This one-bedroom apartment offers a genuinely competitive position in South Yarra’s active apartment market, primarily through its functional layout and location. The 56sqm internal space, including a separate study area and a private balcony, is rarely matched in this price tier and gives a first-home buyer or investor a tangible edge over smaller, less flexible units. The secure building with lift access and intercom entry further strengthens its appeal to professionals and downsizers who prioritise safety and convenience, while the contemporary kitchen and integrated laundry reduce the need for immediate capital outlay. For a buyer seeking a low-maintenance entry into a high-demand suburb, this property’s configuration and condition are its strongest negotiating assets. The primary risk is the building’s high renter concentration,65% rented and 74% short-term occupancy,which can affect loan serviceability for some buyers and may signal less attentive common-area upkeep. This is partially offset by the property’s own strong rental history, with recent leases at $525–$575 per week, offering a clear yield path for an investor. The lack of heritage or flood overlays simplifies future renovations or strata adjustments, and the FTTP NBN connection adds a practical advantage for remote workers. Hold this property as a long-term rental or a well-located first home; its value will track with South Yarra’s enduring demand rather than short-term speculation.