808/16 Woorayl Street, Carnegie VIC 3163
808/16 Woorayl Street, Carnegie VIC 3163
High floor | dual bathrooms | resort rooftop | walk to station and shops | strong rental yield potential.
This apartment occupies a competitive position in Carnegie’s apartment market because the combination of a high-level city outlook, two full bathrooms, and resort-style rooftop amenities is not common at this price point. The open layout with full-height glazing and a study area gives it a wider appeal than many compact two-bedroom designs, making it suitable for professional owner-occupiers or investors targeting tenants who value lifestyle and convenience. The proximity to the Koornang Road dining strip, Carnegie Station, and Monash University reinforces steady demand and supports the indicated rental return.
The main risk is that owners corporation fees in a large complex with a pool, gym, and lift can be material and may erode net yield if not reviewed. The building is modern, so no major capital works are imminent, but the buyer should request the section 32 and recent AGM minutes to confirm the sinking fund and any special levies. The absence of flood or heritage overlays removes two common cost risks. This property should be held as a medium-term investment or a low-maintenance home, with the rooftop and transport links underpinning its resale appeal.
Detailed Independent Property Report prepared by PropCred Analyst team for 808/16 Woorayl Street, Carnegie VIC 3163
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
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Market Insight
Carnegie is a highly sought-after inner-south suburb, prized for its proximity to the city, vibrant local precinct, and excellent transport links. Demand is consistently strong, driven by buyers seeking established amenity and diverse housing options. While the house market shows modest recent growth, the unit segment has demonstrated notable strength. Future appeal is underpinned by its established infrastructure, though high price points relative to the broader Melbourne market present a key affordability constraint, particularly in the current interest rate environment.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
2768m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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