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Back 505/591 Elizabeth Street
Off Market

505/591 Elizabeth Street

Melbourne VIC 3000

1
1
0 m²
0 m²
Apartment
Last sold for $159,000
Jen Lin LauJen Lin Lau, last sold this property on 07 July 2026 after 230 days on market.

Overview

Affordable City Style with High-Return Potential- Gross yield of over 13% if purchase at $145k

Investors Please Note: Fixed term lease till May 2027 returning $1,608 per month. Moments from the best Melbourne has to offer, this fully furnished 1 bedroom student-accommodation apartment captures the very essence of a vibrant city lifestyle. Venture downstairs and take an easy stroll to Queen Victoria Market, the hospitals precinct, world-class universities, Lygon Street restaurants, shopping choice, world-class universities, the free tram zone, and Parkville Railway Station. Discover air-conditioned comfort throughout an open layout with sunlit space for living and dining, underpinned by a streamlined kitchen graced with a tiled splashback, fridge, microwave, and a gas cooktop. Elevated to perfection on the fifth floor, step outside to a sheltered east-facing balcony with relaxing views sweeping over Elizabeth Street treetops. A private bedroom is serviced by a sparkling bathroom featuring a large mirror, storage capability, and a walk-in shower. Hit the ground running with a stylish selection of furniture on display including a comfortable bed with room for storage underneath, a desk and chair, wall-mounted Hisense television, and coffee and bedside tables. Take advantage of split-system heating and cooling, roller blinds, recessed down-lighting, a shared laundry, bicycle storage, lift access, intercom security, and an outdoor entertaining area for all residents. Set in a sought-after, student-only accommodation block, pocket the savings today! Outgoings: Council Rates: $129.54 per quarter approx. Water Rates: $184.26 per quarter approx. Owners Corporation Fees: $680.69 per quarter approx. * Photo identification will be required upon entering the property. Please contact our agent for your personal tour of this home today.

Features

1 bedroom
1 bathroom
0 m² floor area
0 m² lot size
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 505/591 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 505/591 Elizabeth Street

2026
Sold
$159,000
07 Jul 2026 by Jen Lin Lau, of MICM
2022
Rented
Undisclosed
Leased on 19 Sep 2022 by Property X
2022
Rented
Undisclosed
Leased on 10 Mar 2022 by Property X

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, 581 one-bedroom apartments similar to 505/591 Elizabeth Street, have been sold.

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

Nearby agents

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Annamaria Stella

Annamaria Stella is an award winning recommended agent for Melbourne.  They have 14 local sales and collected 19 local reviews across the last 12 months.

  •   5   (380 reviews)
  •  19 Reviews in Melbourne
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Dionne Wilson

Sellers who recommend Dionne Wilson have praised them for being clear communication, local expert, honest, responsive, supportive, dedicated and friendly

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Philip Middlemiss

Sellers who recommend Philip Middlemiss have praised them for being local expert, clear communication, responsive, supportive, well-prepared, strategic and reliable

  •   5   (121 reviews)
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Catherine Sheo

Catherine Sheo is a recommended agent for Melbourne.  They have 12 local sales and collected 9 local reviews across the last 12 months.

  •   5   (60 reviews)
  •  9 Reviews in Melbourne
  •  12 Sales in Melbourne
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