4/96 Grey StreetSt Kilda VIC 3182
Property Details for 4/96 Grey St, St Kilda
4/96 Grey St, St Kilda is a 4 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 1920. The property has a land size of 203m2 and floor size of 105m2.
Last Listing description (February 2026)
This is a once-in-a-lifetime opportunity for the astute investor, offering a substantial property with remarkable rental income. Spanning approximately 854sqm, this prime St Kilda allotment is currently occupied by four individually titled homes, each operating as high-yield, fully furnished rental accommodations.
The property breakdown is as follows:
House 1: Four self-contained one-bedroom/studio apartments
House 3: Registered Boarding House with eight rooms
House 4: Four-bedroom house with an adjacent studio
Generating a gross rental return of approximately 10%, this is an unparalleled investment with incredible cash flow. While immediately profitable, the property also holds significant future potential-whether through modern updates, redevelopment, or a long-term land-banking strategy (STCA).
Perfectly positioned just moments from Barkly, Acland, and Fitzroy Streets, as well as Albert Park, St Kilda Beach, and key public transport links, this is an opportunity to secure a high-performing asset in one of Melbourne's most sought-after lifestyle locations.
Invest, develop, or hold - the choice is yours, but opportunities like this don't come around often.
Disclaimer:
All information provided, including floorplans, room dimensions, and land size, is indicative only and intended for general guidance. Belle Property does not guarantee the accuracy or completeness of any plans, illustrations, or representations shown in marketing materials. We recommend that all prospective buyers conduct their own research, seek independent advice, and confirm all details independently prior to making any property-related decisions. Belle Property accepts no responsibility for any discrepancies or misstatements.
Property History for 4/96 Grey St, St Kilda, VIC 3182
- 20 Feb 2026Listed for Sale $3,500,000
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About St Kilda 3182
The size of St Kilda is approximately 3.2 square kilometres. It has 17 parks covering nearly 21.5% of total area. The population of St Kilda in 2016 was 20230 people. By 2021 the population was 19490 showing a population decline of 3.7% in the area during that time. The predominant age group in St Kilda is 30-39 years. Households in St Kilda are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in St Kilda work in a professional occupation.In 2021, 37.10% of the homes in St Kilda were owner-occupied compared with 33.50% in 2016.
St Kilda has 18,703 properties. Over the last 5 years, Houses in St Kilda have seen a -0.13% decrease in median value, while Units have seen a -2.10% decrease. As at 28 February 2026:
- The median value for Houses in St Kilda is $1,640,704 while the median value for Units is $537,279.
- Houses have a median rent of $550 while Units have a median rent of $550.
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© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.
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