512/65 Coventry Street Southbank VIC 3006

1-bed, 1-bath apartment | Sunday complex by Woods Bagot | premium shared amenities | flood overlay present | suited to owner-occupier or long hold This apartment offers a rare configuration advantage for a one-bedroom unit: a 50m² floor plan with a private balcony and floor-to-ceiling windows, which positions it above the typical compact studio or one-bedder in Southbank. The Sunday Apartments complex, designed by Woods Bagot, provides a competitive edge through its shared amenities—a 25m heated lap pool, spa, cabanas, and landscaped atrium—that are uncommon at this price point. For a buyer seeking a low-maintenance primary residence or a stable long-term hold, this property serves well, as the quality of the complex and layout reduces turnover risk and supports steady rental demand. The primary risk is the flood overlay, which may increase insurance costs and limit some financing options, though no heritage or bushfire overlays apply. The property sits at a price point below the suburb median for one-bed units, offering entry into a well-connected location with 5G coverage and proximity to South Melbourne Park Primary School. The commercial logic is straightforward: buy below the median, hold for capital growth driven by the complex’s quality, and use the strong rental yield—estimated at a midpoint of $525 per week—to offset holding costs. This property is best held as a long-term investment or owner-occupied base, not a short-term flip.