For Sale

506/338 Kings Way, South Melbourne, Vic 3205

$600,000

Apartment

Type

Bedrooms

Bathrooms

Parkings

Published on Friday, September 25, 2026 ( See property details for 506/338 Kings Way, South Melbourne, Vic 3205)

$600,000

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Mandy Engelhardt Sales Consultant

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Andrew Solomon Sales Consultant | Auctioneer

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AI Property Insight

AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A stylish, north-facing two-bedroom apartment in South Melbourne offering natural light, modern finishes, and convenient amenities.

🏡 Property Highlights

North-facing orientation capturing natural light
Spacious two-bedroom layout with floorboards throughout
Sunlit balcony ideal for outdoor living
Stone-finished kitchen with gas cooktop and integrated dishwasher
Secure basement parking and additional storage cage
Prime location near CBD, South Melbourne Market, and Albert Park Lake

✨ Key Features

Floorboards
Balcony
Built-in Robes
Dishwasher
Secure Parking
Open-Plan Living
Outdoor Area / Balcony
Internal Laundry
Lift Access
Secure Gates

Suburb and Property Insights of South Melbourne, VIC 3205

South Melbourne is a vibrant inner-city suburb renowned for its lively markets, beautiful parks, and excellent dining options. It offers easy access to the CBD, stunning waterfront views at Albert Park Lake, and a strong community atmosphere. The area is highly sought after for both lifestyle and investment opportunities, with excellent public transport and amenities nearby.

Frequently Asked Questions

What are the key features of this apartment?

This apartment features north-facing natural light, floorboards throughout, a modern stone kitchen with gas cooktop and dishwasher, built-in robes in both bedrooms, a sunlit balcony, secure basement parking, and lift access.

Is the apartment suitable for investment purposes?

Yes, currently leased at $600 per week, it presents a strong investment opportunity in a highly sought-after inner-city location.

What amenities are nearby?

The property is moments from the CBD, South Melbourne Market, and Albert Park Lake, offering excellent dining, shopping, recreation, and transport options.

What is the condition of the property?

The apartment is in good condition, with well-maintained floorboards and modern finishes throughout.

Does the property include secure parking?

Yes, it includes a secure basement car space and a separate storage cage on title.

What to ask about this property to agent?

Are there any upcoming strata or body corporate fees or special levies? Is there any history of flooding or bushfire risk in this area? Are there any restrictions or easements affecting the property? What are the long-term plans for development in the surrounding area? Are there any known defects or repairs needed for the building or apartment? Is the property compliant with all building and safety regulations? Are there any planned upgrades or renovations to the building's common areas? What are the total ongoing costs including strata fees, council rates, and utilities? Is there any noise or construction activity nearby that could affect living conditions? Are there any restrictions on pets or other lifestyle considerations?

506/338 Kings Way, South Melbourne, Vic 3205 - More Details

$600,000

North-facing, with natural light, this spacious two-bedroom apartment with floorboards throughout, offers easy living in sought after South Melbourne/Albert Park precinct. A generous living zone flows to a sunlit balcony, while the stone-finished kitchen, two robed bedrooms, secure basement parking and storage add everyday practicality. Currently leased at $600 per week, it also presents a ready-made investment in a consistently sought-after inner-city location.

• North-facing orientation capturing natural light
• Floorboards throughout & in good condition
• Stone kitchen with gas cooktop and integrated dishwasher
• Excellent kitchen storage with preparation space
• Light-filled main bedroom with ample built-in robe storage
• Second bedroom also featuring built-in wardrobes
• Bathroom with separated bathroom and toilet
• Secure basement car space plus separate storage cage on title
• Secure lobby entry with convenient lift access
• Moments to CBD, South Melbourne Market and Albert Park Lake

Type: Apartment
Bedrooms: 2
Bathrooms: 1
Parkings: 1

Price guide

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Map & nearby places — 506/338 Kings Way, South Melbourne, Vic 3205

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Nearby schools, parks, shopping, transport, health & dining
Walking & driving routes with travel time from the front door
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506/338 Kings Way, South Melbourne, Vic 3205

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