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Back 506/87 Franklin St
Off Market

506/87 Franklin St

Melbourne VIC 3000

1
1
1
80 m²
Apartment
Last sold for $420,000
Mia ChenMia Chen, last sold this property on 20 November 2025 after 15 days on market.

Overview

SLEEK URBAN LIVING WITH A RARE OVERSIZED TERRACE

Double your CBD lifestyle enjoyment with 506/87 Franklin Street, Melbourne, a rare loft-style apartment boasting an expansive terrace and an unbeatable location in the vibrant heart of the city. Perfectly positioned within the sought-after Franklin Lofts Apartments, this stylish 1-bedroom residence is ideal for professionals seeking the ultimate in convenience and city living. Spread across two levels, the home impresses with full-height windows and sliding glass doors that flood the spacious living and dining area with natural light. Upstairs, the bedroom is a true highlight, generously sized with built-in robes and elevated city vistas that enhance its sense of space and comfort. Secure Your Sanctuary • Enjoy approximately 80sqm of total space • Contemporary kitchen with quality European appliances • Upstairs features a spacious bathroom with laundry facilities • Secure car space • Secure building with intercom entry • Additional storage options, including a storage cage and a generous under-stair storage room The Essentials • Internal Area: 58m² • External Area: 22m² • Total Size: 80m² Expand Your Horizons Residents of the building will have access to a swimming pool, gym, and sauna. Location wise, this will be hard to beat where you’re so close to RMIT University, Melbourne Central Shopping Centre, QV shopping, State Library of Victoria, University of Melbourne, Carlton Gardens, Lygon Street restaurants, Queen Victoria Market, the endless amount of city bars and eateries, free trams, and Melbourne Central Station. All information including the internal and external property area (floor size, address, and general property description) on the website has been provided to Lucas Real Estate by third parties. Information contained on the website should not be relied upon and homebuyers are encouraged to undertake due diligence before a property purchase. Please contact Mia Chen on 0413 096 455 or Lynn Lum on 0474 044 293 to discuss this property further.

Features

1 bedroom
1 bathroom
1 carspace
1 garage space
80 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 506/87 Franklin St is $344.58k.

Median value
$344.58k
Estimated value range
$39k - $935k
Median days on market
37
Estimated value trend
-1%
decrease 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 506/87 Franklin St

2025
Sold
$420,000
20 Nov 2025 by Mia Chen, of Lucas Real Estate
2023
Rented
Undisclosed
Leased on 20 Feb 2023 by Melcorp Real Estate City Central
2021
Rented
Undisclosed
Leased on 06 May 2021 by Melcorp Real Estate City Central

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 506/87 Franklin St, have been sold.

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

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