508/83 Flemington Road North Melbourne VIC 3051

Nord complex | 1-bed with balcony | city views roof terrace | Parkville station 2025 The unit offers a rare combination of a covered balcony and direct access to a residents’ roof terrace with city skyline views, features that typically command a premium in this price bracket. Its position within walking distance of Royal Park, major hospitals, and both Melbourne and RMIT universities gives it a dual appeal to professional tenants and owner-occupiers seeking a low-maintenance urban base. The upcoming Parkville Station in 2025 will improve connectivity without the noise of a main road frontage. This property best suits a first-home buyer or investor prioritising yield over capital growth, given the building’s track record. The primary risk is the building’s sales history showing negative annual growth across multiple unit types over eight to eleven years, which suggests the complex has underperformed the broader market. The 30% rental proportion in the building is moderate, but the high rental yields of 6.9% to 9.75% indicate strong tenant demand, partially offsetting weak capital appreciation. A buyer should treat this as a cash-flow holding rather than a growth play, and consider negotiating below the mid-range of the price guide to build in a buffer against further softness.