910/243 Franklin Street, Melbourne VIC 3000

High floor Queen Victoria Market view | 1-bed flat in Melbourne CBD fringe | Strong 10% rental yield potential | Off-market opportunity in flat-growth building The buying case rests on yield and location. At an estimated $245,000 with $500 per week rent, this unit delivers a gross return near 10.6%—well above Melbourne CBD averages. The position opposite Queen Victoria Market ensures constant tenant demand from students and professionals, and the high floor likely provides a market-facing view that commands a rental premium over lower units. For a buyer seeking cash flow over capital growth, this property serves as a low-entry income hold in a prime inner-city pocket. The risk is the building’s flat or negative price trajectory. Comparable sales show annual declines of 1–2% for two-bedroom units, and one recent one-bedroom sale at $229,000 suggests limited upside. The 26% loss on a recent resale flags potential oversupply or quality issues in the complex. The buyer should treat this strictly as a rental investment, not a growth play. Opportunity exists in negotiating below the $230,000 low end of the value range, given off-market status and weak comparables. Hold for income, sell only if yield compresses below 8%.