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Back 507/471 Little Bourke Street
Off Market

507/471 Little Bourke Street

Melbourne VIC 3000

1
1
45 m²
Apartment
Nick WaltersNick Walters, last sold this property on 26 June 2026 after 592 days on market.

Overview

8.8% RETURN - NORTH FACING INVESTMENT APARTMENT...

Situated on the fifth floor and on the preferred Northern side on the front of the building, this is an oversized Studio apartment of approximately 45 square meters with open plan kitchen, dining and lounge area. In addition to this, there is a large bedroom area with mirrored robes and compact bathroom .The property offers a top floor gym and sauna, good security, a quality restaurant and bar situated just off the lobby, and a fantastic Melbourne location near the heart of the legal precinct. The apartment is leased to Panache Hotel Group (PHG) with the lease running until March 2029, with four further 5-year options thereafter. NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION. IMPORTANT INFORMATION: RENT: $27,326 pa (Effective April 2026) ($521 per week approx) INCREASE: Annual 3% between Market Reviews. (Market Reviews every 2.5 years) RETURN: 8:8% Gross (7.5% Nett) LEASE: Until March 2029 OPTIONS: Four Further 5-Year Options TENANT (PHG) PAYS: Owners Corporation Admin Insurance General maintenance ESTIMATED OWNER'S OUTGOINGS: O C Maintenance Fee: $1,650 pa Council Rates: $1,135 pa Water Rates: $984 pa Inspection is by private appointment. For further details please contact: Nick Walters of Kingsford Property - 0438 557 885 Nick@kingsfordproperty.com.au Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.

Features

1 bedroom
1 bathroom
45 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 507/471 Little Bourke Street is $350.1k.

Median value
$350.1k
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 507/471 Little Bourke Street

2026
Sold
Undisclosed
Private Sale/Treaty on 26 Jun 2026 by Nick Walters, of Kingsford Property

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 122 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 507/471 Little Bourke Street, have been sold.

This represents a 17% increase in one-bedroom apartments sales when compared to the previous 12 months.

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