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Back 506/60 Market St
Off Market

506/60 Market St

Melbourne VIC 3000

1
1
49 m²
Apartment
Last sold for $216,000
Bryce CarrollBryce Carroll, last sold this property on 02 September 2026 after 48 days on market.

Overview

49m2 Apartment with Study Only $225k!

Selling for less than half the replacement cost - Incredible value! Enter the apartment and you find a wide entry hall perfect for a home office/study and/or storage area. There is an oversized bathroom with disability access shower. Walk through to the main living area which is very substantial in size and overlooks Market Street. The living zone includes a kitchen, generous dining area, living area and spacious bed area with built in robe. Leased to Oaks on Market Hotel for 5 years (lease expires August 31st 2031). You cannot occupy the apartment until the lease expires, however there's a guaranteed rental return which is yielding close to 7% net per annum, it's a set and forget rental paid into your bank account each month no matter what, and there's built in CPI rent increases annually which means 7% return today would be 8% in only a few years time. The most attractive part of this opportunity is the significant upside in the property value in 5 years time when the lease expires. Or if you'd prefer to hold longer term rather than cash in on the value uplift, then you'll have to option in 2031 to move in, lease out privately or potentially renew another 5 years with Oaks. The choice is yours! Rent Income $16,604pa less Owners Corp Sinking Fund $1,560pa NET RENT = $15,044pa Oaks (tenant) pay the council rates, water rates and owner corp admin fund fees under lease agreement! enquire for more information

Features

1 bedroom
1 bathroom
49 m² floor area
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 506/60 Market St is $350k.

Median value
$350k
Estimated value range
$39k - $935k
Median days on market
35
Estimated value trend
1%
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 506/60 Market St

2026
Sold
$216,000
Private Sale/Treaty on 02 Sep 2026 by Bryce Carroll, of Hot Spot Property Group
2016
Sold
$270,000
Private Sale/Treaty on 04 Jan 2016 by Martin Mashni, of Dingle Partners

Happy sellers in Melbourne

85%
85% 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 126 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 578 one-bedroom apartments similar to 506/60 Market St, have been sold.

This represents a 22% increase in one-bedroom apartments sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Melbourne

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Annamaria Stella

Annamaria Stella is an award winning recommended agent for Melbourne.  They have 15 local sales and collected 25 local reviews across the last 12 months.

  •   5   (392 reviews)
  •  25 Reviews in Melbourne
  •  15 Sales 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

  •   4.9   (241 reviews)
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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   (124 reviews)
  •  17 Reviews in Melbourne
  •  13 Sales in Melbourne
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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   (61 reviews)
  •  9 Reviews in Melbourne
  •  12 Sales in Melbourne
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