Back 304/591 Elizabeth Street
Off Market

304/591 Elizabeth Street

Melbourne VIC 3000

1
1
Apartment
Last sold for $154,300
Nick RichardsNick Richards, last sold this property on 06 July 2026 after 216 days on market.

Overview

Great investment with a 12.3 % gross return

A cleverly designed one-bedroom urban retreat that makes the most of every inch. Bright, fresh, and modern, this apartment offers a fully equipped kitchen with ample storage, sleek cabinetry, gas cooking, and a built-in microwave-perfect for easy everyday living. Currently leased the property has super strong return of $19,296 per year or 11.3% gross return. Together with low outgoings this offers a brilliant return on your investment. The open-plan layout flows seamlessly from the kitchen to the living and study area, featuring a dedicated workstation with built-in shelving and a sliding-door connection to your private balcony. Floor-to-ceiling glass draws in natural light, creating a sense of openness while still maintaining privacy. Whether you're working from home, relaxing, or entertaining, the space is thoughtfully set up for both comfort and practicality. The bedroom and bathroom continue the theme of smart design, with generous storage, a bright vanity area, and a crisp, fully tiled shower. Ideal for first-home buyers, investors, or anyone seeking a low-maintenance city base, this apartment blends functionality with style-all in a prime, walkable location close to transport, cafés, and everyday essentials. A compact home that truly overdelivers.

Features

1 bedroom
1 bathroom
Apartment

Estimated Value

Based on this property and similar 1 bedroom apartments sold in Melbourne over the last 12 months, the estimated median property value of 304/591 Elizabeth Street is $350k.

Median value
$350k
Estimated value range
$39k - $935k
Median days on market
35
Estimated value trend
2%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Melbourne. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 304/591 Elizabeth Street

2026
Sold
$154,300
Private Sale/Treaty on 06 Jul 2026 by Nick Richards, of Precinct Real Estate
2026
Rented
Undisclosed
Leased on 05 Feb 2026 by Precinct Real Estate
2025
Rented
Undisclosed
Leased on 25 Feb 2025 by Precinct Real Estate

Happy sellers in Melbourne

86%
86% of sellers in Melbourne reported that their sale price either exceeded or met their price expectations.

Melbourne stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 125 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 582 one-bedroom apartments similar to 304/591 Elizabeth Street, have been sold.

This represents a 19% increase in one-bedroom apartments sales when compared to the previous 12 months.

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