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808/31 Grattan Street, Prahran$628,000

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808/31 Grattan Street

Prahran, VIC 3181, Australia

$628,000

2 bed 2 bath 1 car

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Listing description

About this property

Positioned on the top floor, this beautifully presented residence delivers a refined balance of style, functionality and low-maintenance living, tucked away in a quiet corner just off Commercial Road in one of Prahran's most sought-after pockets. Designed with a practical and well-considered layout, the home opens to a light-filled living and dining domain, enhanced by warm timber flooring and a seamless connection to a covered balcony perfect for relaxed everyday living or effortless entertaining. The modern kitchen is well-appointed with quality appliances and ample storage, combining efficiency with a sleek, contemporary finish. Accommodation comprises two well-proportioned bedrooms, each fitted with built-in robes. The main bedroom is complemented by a private ensuite, while a central bathroom and dedicated laundry space add further everyday convenience. Completing the offering is a standard basement car space (not a stacker), providing ease of access and true practicality. Residents also enjoy views over Emporia's beautifully maintained Japanese-inspired garden and access to communal recreational facilities, offering a peaceful retreat within an urban setting. Perfectly connected, tram route 72 is right at your doorstep, with Prahran Station just approximately 200 metres away, ensuring effortless access to the CBD and surrounding lifestyle hubs. Superbly located directly across from Prahran Market and within moments of Chapel Street, Grattan Gardens and an array of renowned cafés, restaurants and boutiques, this is an outstanding opportunity for both owner-occupiers and investors seeking a premium lifestyle address.

Property Details

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

Repayment calculator

$3,045/month

$1,522 /fortnight

Loan $502,400 at 6.10% over 30 years

Upfront costs

Deposit$125,600

Stamp duty$32,750

Conveyancing (est.)$2,000

Total upfront$160,350

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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 Prahran

This 2-bedroom apartment in Prahran, VIC 3181 sits within reach of public transport, local shops local amenities. It is listed 5% above the $600,000 median of 54 comparable apartmentswithin 5 km.

What's nearby

Stop 46: Chatham Street (tram) — 351 m away
Bonds — 305 m away
Unnamed — 86 m away
Unnamed — 161 m away
Unnamed — 169 m away

Prahran at a glance

Full suburb profile

Population: 12,203
Median age: 34
Household income: $2,121/wk
Median rent: $421/wk
Median mortgage: $2,274/mo

Source: ABS Census.

Due diligence

Property Report

Lifestyle & access

Schools

7 nearby schools

Catchment: South Yarra Primary School

Public transport

10 stops within 1.5km

Nearest: Commercial Road/Punt Road (0.5km)

Traffic

Moderate congestion

Morning (7-9am) and evening (5-7pm) peak hours see increased congestion on Chapel Street and surrounding residential streets. Chapel Street southbound experiences heavier congestion during evening peaks. Local streets experience increased traffic from residents and retail customers.

Noise

High noise

Nearest: road (0.0km)

Risk & safety

Flood risk

Medium

Prahran is located within the Yarra River catchment and portions of the suburb fall within the Land Subject to Inundation Overlay (LSIO), reflecting historical flood risk from the Yarra River and localised stormwater inundation. Properties in the mapped overlay zones face medium flood risk and are subject to strict planning controls. While the suburb is not uniformly high-risk, flood-prone pockets (particularly near the Yarra corridor and low-lying areas) require careful site assessment and may trigger design requirements or building restrictions.

Bushfire risk

Low

BAL: BAL-LOW

Crime profile

above average

Trend: stable

Planning & context

Zoning

GRZ1 — General Residential Zone - Schedule 1

Stonnington Planning Scheme

Nearby development

6 projects nearby

Prahran is experiencing steady infill development driven by its proximity to the CBD, established lifestyle amenities and strong heritage character. Development pressure centres on Chapel Street and surrounds with adaptive reuse of heritage buildings, incremental residential intensification, and hospitality-led mixed-use projects. The broader South Yarra station precinct renewal agenda and improved public transport connectivity are expected to sustain moderate development activity over the medium term.

Heritage

Heritage listed

Prahran is a well-established inner-city suburb with significant Victorian and Edwardian heritage fabric, particularly along Greville Street and around the town centre. The suburb has extensive Heritage Overlay controls and a Character Residential Zone that protects its distinctive streetscapes and architectural heritage. Many properties are subject to development restrictions and facade preservation requirements.

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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