508/155 Bourke Street, Melbourne VIC 3000
508/155 Bourke Street, Melbourne VIC 3000
1936 Art Deco unit | 55-57sqm with study | prime Melbourne address | lift and concierge building
This property occupies a rare position in Melbourne’s inner-city market. The 1936 build provides solid construction and period character that newer developments lack, while the inclusion of a study, Euro laundry, and broad hallway entrance makes the 55-57sqm floorplan more functional than typical one-bedroom flats. The lift and concierge add everyday convenience that buyers in this segment prioritise, and the heritage overlay protects the building’s envelope from overshadowing or unsympathetic neighbouring development. For a professional or downsizer wanting a low-maintenance base within walking distance of the CBD, this unit competes strongly against newer but smaller apartments in the same price tier.
The primary risk is the absence of recent sales data for this specific lot, which means the estimated value range of $296,000 to $320,000 carries more uncertainty than a comparable property with a known transaction history. The heritage overlay also limits future renovation options, so the buyer must accept the existing layout as-is. On the positive side, the rental estimate of $545 to $600 per week supports a gross yield above 5% if purchased near the lower end of the range, making this viable as a hold-and-lease proposition. The parking space is a genuine differentiator in this location and should be factored into any exit strategy. Hold for steady rental income or occupy as a well-positioned city base.
Detailed Independent Property Report prepared by PropCred Analyst team for 508/155 Bourke Street, Melbourne VIC 3000
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Melbourne’s core is defined by its unparalleled lifestyle proximity and tightening supply, attracting a broad buyer pool of owner-occupiers, downsizers, and investors. Sustained demand is driven by urban renewal, low vacancy rates, and robust sales activity, supporting solid price growth. Future prospects are underpinned by scarcity and gentrification, though affordability pressures and an easing of supply tightness present emerging headwinds for the market’s resilience.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
-
Land
836m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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