506/338 Kings Way, South Melbourne VIC 3205

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506/338 Kings Way, South Melbourne VIC 3205

$600,000

Search Band Search Visibility Band

$600k - $650k High Confidence Calculated based on strong search observations.

Apartment 2 Beds 1 Bath 1 Car

Listed: 9 days ago

Updated: 3 days ago

Overview

Set in the prime inner-city precinct of South Melbourne and Albert Park, this north-facing apartment offers a practical and appealing living opportunity. The well-maintained unit benefits from abundant natural light accentuated by floorboards throughout, creating a warm and inviting atmosphere. A spacious living and dining area seamlessly extends onto a sunlit balcony, enhancing the living space with an outdoor connection perfect for relaxation.

The kitchen stands out with its stone finishes, gas cooktop, integrated dishwasher, and generous storage and preparation space, supporting efficient and enjoyable cooking. The two bedrooms, both fitted with built-in robes, are thoughtfully proportioned and share access to a central bathroom and an additional separate toilet, enhancing convenience and privacy.

Additional benefits include secure basement parking and a separate storage cage on title, addressing practical needs for storage and vehicle security. Access is further complemented by secure lobby entry and lift facilities, improving comfort and safety. Investors will appreciate the established rental income, currently leased at $600 per week, situated in a consistently desirable location offering lifestyle ease close to the CBD, South Melbourne Market and Albert Park Lake.

This apartment offers a combination of lifestyle convenience, low-maintenance living, and secure access, making it suitable for investors and urban dwellers seeking reliability and inner-city connectivity.

Local Market Insights

In South Melbourne, Quiet Listings observed 23 new apartments entering the market over the last 30 days, up from 11 during the previous 30-day period, with an average advertised asking price of $879,304. The property type mix of listed properties is predominantly Apartments at 55%, followed by houses (36%), and commercial properties (7%). The most active agency for apartments in the South Melbourne area is currently Buxton Real Estate Group, representing 26% of new listings, followed by Marshall White with 22%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.