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3105/57-61 City Road, Southbank$315,000

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3105/57-61 City Road

Southbank, VIC 3006, Australia

$300,000 – $330,000

1 bed 1 bath

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Listing description

About this property

INSPECTION AVAILABLE Immaculately presented with clear city views, this turn-key opportunity is ideal for both owner occupiers and investors. POTENTIAL 9%+ YIELD. Beyond an abundance of natural light, elevated outlooks and a layout that feels immediately comfortable, residents enjoy a near river-side location next to one of Melbourne's marque precincts, Southgate by the Yarra River. Should you be an investor, this building is well regarded as delivering high yielding returns with potential to achieve in excess of 9% yield. 31st Floor - Bright, sun-lit one-bedroom apartment with elevated city outlooks Open-plan living, dining and kitchen zone Floorboards in living areas and carpeted bedroom Juliette balcony with floor-to-ceiling glazing Engineered stone kitchen with stainless steel gas cook-tops & Oven Integrated dishwasher & concealed fridge cabinet Well-sized bedroom with built-in robe Modern bathroom Intercom secure entry system separate entry for private residences Neighbouring the iconic Melbourne's Eureka Tower and the Langham Hotel, this central Southbank address, the best of inner-Melbourne is within easy reach. Walk to the Yarra River promenade, The Botanical Gardens, Flinders Street Station, Crown, cafés, restaurants and the Arts Precinct, with the CBD just across the river for work, study or leisure. Value for money, not to be missed.

Property Details

Property Type: apartment
Listing Type: For Sale
Bedrooms: 1
Bathrooms: 1
Listed: 2 months ago

Repayment calculator

$1,527/month

$764 /fortnight

Loan $252,000 at 6.10% over 30 years

Upfront costs

Deposit$63,000

Stamp duty$13,970

Conveyancing (est.)$2,000

Total upfront$78,970

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Indicative figures only — not a quote. Real loan offers depend on the lender; duty depends on contract terms and applicable concessions.

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Neighbourhood

Living in Southbank

This 1-bedroom apartment in Southbank, VIC 3006 sits within reach of public transport, local shops and nearby schools. It is listed 52% below the $660,000 median of 70 comparable apartmentswithin 5 km.

Schools near Southbank

South Melbourne Primary Schoolprimary · Prep-6 · CoEd
Victorian College Of The Arts Secondary Schoolsecondary · 7-12 · CoEd

What's nearby

Stop 116: City Road (tram) — 655 m away
Unnamed — 503 m away
Unnamed — 137 m away
Unnamed — 140 m away
Unnamed — 160 m away

Southbank at a glance

Full suburb profile

Population: 22,631
Median age: 31
Household income: $1,926/wk
Median rent: $411/wk
Median mortgage: $1,900/mo

Source: ABS Census.

Due diligence

Property Report

Lifestyle & access

Schools

7 nearby schools

Catchment: Southbank Primary School

Public transport

10 stops within 1.5km

Nearest: Southbank Theatre/Southbank Bvd (0.3km)

Traffic

Moderate congestion

Morning peak (7-9am) and evening peak (5-7pm) see significant congestion on City Road and approaches to Princes Bridge. Southbound traffic toward St Kilda Road and eastbound toward the CBD experiences notable delays. Weekend traffic is typically lighter with cultural venue visitors causing localized congestion.

Noise

High noise

Nearest: road (0.0km)

Risk & safety

Flood risk

Medium

Southbank is situated in the Yarra River floodplain and is subject to Victoria's Land Subject to Inundation Overlay (LSIO). While the area has undergone significant urban renewal and modern flood-aware development, properties remain at medium flood risk due to proximity to the Yarra River and its tributary systems. Planning approval and detailed flood risk assessment are typically required for new works or substantial renovation.

Bushfire risk

None

Southbank is a dense urban precinct in inner Melbourne with no bushfire-prone area designation or BMO overlay. The suburb is characterised by high-density residential and commercial development with minimal native vegetation, placing it well outside bushfire risk zones. No BAL rating applies to this location.

Crime profile

above average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone - Schedule 1

Melbourne Planning Scheme

Nearby development

6 projects nearby

Southbank is a mature urban renewal precinct experiencing continued mixed-use intensification focused on riverfront activation, residential growth and cultural precinct expansion. Development activity concentrates on high-density residential towers, mixed-use cultural-retail integration, and public realm improvements, with significant activity also in adjacent precincts (Fishermens Bend, St Kilda Road corridor) driving broader inner-city renewal. Council support for arts, culture and residential infill remains strong, with most recent DAs reflecting demand for premium inner-city apartments and hospitality-led mixed-use schemes.

Heritage

Heritage listed

Southbank is a purpose-built cultural precinct and heritage area developed from the 1980s onwards, featuring nationally significant arts and cultural institutions. The entire suburb functions as a heritage conservation area with strict design controls to maintain its identity as a major cultural and civic destination. Properties within this area face significant restrictions on external alterations and development to preserve the precinct's planned character and heritage significance.

Sources: Australian Gov open data, OpenStreetMap + StMate AI

Disclaimer: This report combines data from Australian Government open data portals (CC-BY 4.0) and StMate AI. For non-NSW properties some sections (zoning, flood, bushfire, development, heritage) are AI-generated based on publicly known suburb characteristics — always verify with the relevant council or authority before making decisions. This report does not constitute legal, financial, or planning advice.

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