54/1 Graham Street, Port Melbourne VIC 3207

Dual-level apartment | Bayside complex | Panoramic bay views | Port Melbourne edge | High-demand postcode The dual-level configuration is competitively rare in this bayside segment, providing separation of living and sleeping zones that single-level apartments cannot offer. The direct bay views and position on the Port Melbourne-Albert Park edge give this property a lifestyle advantage that commands premium pricing over comparable flats further inland. It serves best a professional couple or downsizer seeking a lock-and-leave residence with strong capital growth potential in a tightly held postcode. The 1.4-acre land component, while strata-titled, signals a well-maintained complex with shared amenity value. The flood and heritage overlays are priced into the market but may constrain future redevelopment or insurance costs, which the buyer should verify. The variance in reported bathroom count requires physical inspection to confirm. The recent $1M sale sets a firm floor for value, and the rental yield at $860/week midpoint offers a reasonable 4.5% gross return. This property should be held as a long-term primary residence or blue-chip rental in a suburb with consistent demand.