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402/591-593 Elizabeth Street, Melbourne$160,000
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For Saleapartment

402/591-593 Elizabeth Street

Melbourne, VIC 3000, Australia
$160,000
1 bed 1 bath

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About this property

Experience the best of Melbourne student living with this standout investment property located right in the heart of vibrant Elizabeth Street. Just moments from Melbourne University, RMIT, and the iconic Queen Victoria Market, this unit represents an exceptional opportunity to capitalise on strong rental demand. Currently vacant ready for your child to begin an amazing new year at the local university or ready to rent at approximately $360-$370/week. It offers a vibrant, free-flowing floor plan with separate bedroom, full bathroom, a cosy kitchen area, living space with a built-in study, plus a balcony. All of this is situated in a lovely building with a character-filled exterior and great amenities for hanging out. Living here means enjoying the incredible convenience that its central location offers with close proximity to cafes and all amenities one could ever need. An array of shops and parks are only a short stroll away. This apartment represents an excellent opportunity for investors to secure a property in the thriving student-only accommodation market. Its balcony feature, separate bedroom and strong rental return make it highly desirable, promising consistent demand from quality tenants. Contact us now to discuss further and secure this exceptional investment on Elizabeth Street. ------ Disclaimer: Images are digitally edited and contain styled furniture for display purposes only. We have, in preparing this document, used our best endeavors to ensure that the information contained is accurate. Images with staged furnishings as indicated on the photos. Prospective purchasers should independently verify all information provided and consult the due diligence checklist provided by Consumer Affairs Victoria

Property Details

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

Repayment calculator

$776/month
$388 /fortnight
Loan $128,000 at 6.10% over 30 years

Upfront costs

Deposit$32,000
Stamp duty$4,670
Conveyancing (est.)$2,000
Total upfront$38,670
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 Melbourne

This 1-bedroom apartment in Melbourne, VIC 3000 sits within reach of public transport, local shops and nearby schools. It is listed 57% below the $370,000 median of 62 comparable apartmentswithin 5 km.

Schools near Melbourne

  • Eltham College - Lonsdale Street Campuscombined
  • Melbourne Grammar Schoolcombined · Prep-12 · CoEd
  • Melbourne Grammar School - Wadhurst Campuscombined
  • Victorian College For The Deafcombined · U · CoEd
  • Wesley Collegecombined · Prep-12 · CoEd
  • Holmes Grammar Schoolsecondary · 11-12

What's nearby

  • Stop 7: Queen Victoria Market (tram)264 m away
  • Supercut422 m away
  • Courtney Street Reserve228 m away
  • Bedford Street Reserve304 m away
  • Unnamed365 m away

Melbourne at a glance

Full suburb profile
Population
54,941
Median age
29
Household income
$1,448/wk
Median rent
$381/wk
Median mortgage
$1,800/mo

Source: ABS Census.

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Suburb market

Suburb price trend

Melbourne price trend

Median sold · Unit 1 bed

Compound growth -0.8% / yr over 4 yrs

$345kcurrent median

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Price history

Listing price changes

1 price change recorded for this property

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