401/591 Elizabeth Street

Melbourne VIC 3000

Apartment

Currently for sale - view listing

Overview

Secure CBD Student Accommodation Investment – Leased Until January 2027

Positioned in the heart of Melbourne’s vibrant university precinct, this well-presented student accommodation apartment offers an affordable entry into the Melbourne property market with immediate rental returns and long-term tenant security. Located within the popular student accommodation complex at 593 Elizabeth Street, this functional studio-style apartment is ideal for investors seeking a low-maintenance property in a prime CBD location. Currently leased at $390 per week ($1,695 per calendar month) until 22 January 2027, the property provides strong and consistent income from day one. The apartment features a practical open-plan layout with built-in study desk, private bathroom, kitchenette facilities, and excellent natural light. A private balcony adds valuable outdoor space, while the building’s central location places residents within walking distance to Melbourne University, RMIT, Queen Victoria Market, Melbourne Central, public transport, cafes and restaurants. Property Features: Secure student accommodation investment Currently leased at $390 per week / $1,695 pcm Fixed tenancy until 22/01/2027 Functional open-plan studio layout Private bathroom and kitchenette Built-in study area and storage Private balcony with urban outlook Excellent CBD location close to universities and transport Low-maintenance investment opportunity An ideal addition to any investment portfolio with reliable rental income in one of Melbourne’s most consistently demanded student accommodation locations.

Features

1 bedroom

1 bathroom

Apartment

Property history for 401/591 Elizabeth Street

2024

Sold

$152,250

06 Aug 2024 by Zeno Kobica, of Viva Property

Happy sellers in Melbourne

84%

84% 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 134 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 586 one-bedroom apartments similar to 401/591 Elizabeth Street, have been sold.

This represents a 13% increase in one-bedroom apartments sales when compared to the previous 12 months.

Sold

For Sale

For Rent

View the listing for inspection times, agent contact details, and more.

at Viva Property