59/88 Kavanagh Street, Southbank VIC 3006

1-bedroom apartment | 59 sqm internal | Southbank high-rise | sold 2015 for $385,000 | parking may or may not be included This property sits as a mid-market one-bedroom apartment in a dense Southbank tower, with its 59 square metres of internal area being notably generous for the suburb—larger than many compact units in the area and offering genuine liveability rather than a micro-apartment feel. The location is the primary draw, placing a buyer within walking distance of the Melbourne CBD, the arts precinct, and riverside dining, which makes it a strong fit for owner-occupiers such as first-home buyers or downsizers who prioritise convenience and urban amenity, as well as investors targeting the steady rental demand from city workers and professionals. The open-plan layout with a private balcony, typical of this building, adds to its appeal by providing a usable outdoor space that is not always standard in comparable high-rise stock. The recorded 2015 sale price of $385,000 provides a historical anchor, but value today may be influenced by the building’s age, floor level, and aspect, which are not specified here, as well as whether this particular unit includes a car space—a feature that can materially affect both sale price and rental yield in this pocket. The absence of parking may limit its appeal to some buyers, while its presence could justify a premium, and buyers should weigh how the unit’s fitout quality and views compare with other one-bedroom offerings in the same tower or nearby buildings when forming a price view.