804/45 Dudley Street, West Melbourne VIC 3003

8th-floor sunroom apartment | Flagstaff Hill Residences | Strong rental yield potential | Below estimated value range This property offers a rare buying case in West Melbourne: a one-bedroom apartment with an enclosed sunroom that functions as a genuine second living space, a configuration that typically commands a premium over standard units in this market. The asking price sits notably below the estimated value range, which suggests either a motivated seller or a pricing error that an informed buyer can exploit. The unit serves best for an investor seeking a high-yield holding, given the central rental estimate of $690 per week and comparable sales in the building achieving over 6% yield. The primary risk is the valuation gap—if the estimated value is accurate, the property may require patience to realise gains, but if the market has softened, the buyer could face a period of flat growth. The opportunity lies in the pricing disconnect: buying below the estimated range provides immediate equity upside. The building’s residential zoning and lack of overlay restrictions add to the holding flexibility. For an investor, this unit should be acquired and held for rental income, with a refinancing trigger once comparable sales catch up to the valuation.