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4/1 Oconnell Street, North Melbourne$190,000
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For Saleapartment

4/1 Oconnell Street

North Melbourne, VIC 3051, Australia
$185,000 – $195,000
1 bed 1 bath

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About this property

Pagan Real Estate presents a fantastic opportunity to purchase this 'cashcow' studio/student apartment, in a prime Melbourne location offering excellent rental returns. Current STUDENT HOUSING AUSTRLIA Rent sits at $420 per week. Leased to 15/01/2027. Positioned in a sought-after location, Apartment 4/1 O'Connell Street presents an affordable and low-maintenance investment opportunity in the heart of Melbourne's renowned education precinct. Overlooking O'Connell Street, this well-appointed apartment offers a bright and functional layout designed specifically for student living. Conveniently located within walking distance to major universities, Queen Victoria Market, public transport, parks, cafes, and the CBD, it provides strong appeal to both local and international students. A set-and-forget investment in a prime city-fringe location, this apartment is ideal for investors seeking secure rental demand and long-term convenience.

Property Details

Property Type
apartment
Listing Type
For Sale
Bedrooms
1
Bathrooms
1
Listed
1 month ago

Repayment calculator

$921/month
$461 /fortnight
Loan $152,000 at 6.10% over 30 years

Upfront costs

Deposit$38,000
Stamp duty$6,470
Conveyancing (est.)$2,000
Total upfront$46,470
Verify with VIC revenue office →
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 North Melbourne

This 1-bedroom apartment in North Melbourne, VIC 3051 sits within reach of public transport, local shops and nearby schools. It is listed 56% below the $429,000 median of 73 comparable apartmentswithin 5 km.

Schools near North Melbourne

  • North Melbourne Primary Schoolprimary · Prep-6 · CoEd
  • St Michael's Primary Schoolprimary · Prep-6 · CoEd
  • Mount Alexander 7-12 College-River Nile Campussecondary
  • River Nile Schoolsecondary · 11-12 · Girls
  • SEDA College (Victoria) - The Huddle, North Melbourne Football Clubsecondary
  • St Aloysius Collegesecondary · 7-12 · CoEd

What's nearby

  • Stop 15: Arden Street (tram)1.2 km away
  • Zanes Hair1.3 km away
  • Leveson Street Park799 m away
  • Unnamed811 m away
  • Unnamed839 m away

North Melbourne at a glance

Full suburb profile
Population
14,953
Median age
31
Household income
$1,717/wk
Median rent
$381/wk
Median mortgage
$2,035/mo

Source: ABS Census.

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Suburb market

Suburb price trend

North Melbourne price trend

Median sold · Unit 1 bed

Compound growth -4.8% / yr over 4 yrs

$370kcurrent median

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Price history

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1 price change recorded for this property

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