806/243 Franklin Street, Melbourne VIC 3000

Compact 28sqm studio-style one-bed | Level 8 in investor-heavy 70% renter tower | 10%+ gross yield at mid-range rent | CBD fringe with strong student/professional demand. This property’s competitive strength lies entirely in its rental economics. At a gross yield approaching 10.5%, it outperforms most Melbourne CBD apartments, making it a prime candidate for yield-focused investors seeking cash flow over capital growth. The 28sqm floorplate is the smallest in the building, but this is offset by a location within a high-demand rental catchment dominated by young professionals and students, and a building where 70% of units are tenanted—confirming established letting demand. The unit serves best as a low-entry, high-yield addition to a diversified portfolio, not as a primary residence or a vehicle for appreciation. The primary risk is resale liquidity. Apartments under 30sqm attract a narrower buyer pool, and the building’s high investor concentration means competing stock may suppress price growth. Strata fees on a small unit can erode net yield significantly—these must be verified. The opportunity lies in negotiating below the $260k guide, given a recent $229k sale in the same building for a similar unit. If purchased at a discount to the lower guide, the margin to exit improves, and the yield becomes genuinely defensive. No overlay constraints or connectivity issues are present, but the property’s value is almost entirely income-dependent.