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Back 508/471 Little Bourke Street
Off Market

508/471 Little Bourke Street

Melbourne VIC 3000

1
1
72 m²
Apartment
Last sold for $350,000
Bryce CarrollBryce Carroll, last sold this property on 07 July 2026 after 3 days on market.

Overview

Positive Cash Flow Opportunity 8.2% Net Return!

Who needs negative gearing when you can have positive gearing! Facing north and overlooking Little Bourke St in the heart of the legal precinct, this very spacious approx 72m2 apartment is securely leased until 2029 to Panache Hotel Group, with 4 x 5 year options taking the total potential lease term out to 2049. The apartment features an entry hall, very genersous bathroom with separate shower and bath, spacious and light filled open plan kitchen/living/dining area, and very large master bedroom with BIR. Annual Rental = $32,467.80 with annual 3% increases (and market review each 2.5 years) Annual outgoings: OC Maintenance fees - paid by owner $1,100pa Council rates - paid by owner $1,481pa Water rates - paid by owner $850pa (approx) total outgoings payable by owner = $3,431pa Net rent (after outgoings) = $29,036.80 (circa 8.2% Net Return!!) The OC admin fees ($9,366pa) are payable by the tenant The building has a gym, sauna, lobby/reception, and an excellent restaurant & bar. Set and Forget Long Term Investment. Great for self managed super funds or an astute investor looking to build a positive cash flow portfolio and pay down debt fast for a financially free future Apartments of this size and calibre with an 8%+ net return don't come along often Inspect by Private Appointment

Features

1 bedroom
1 bathroom
72 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 508/471 Little Bourke 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 508/471 Little Bourke Street

2026
Sold
$350,000
Private Sale/Treaty on 07 Jul 2026 by Bryce Carroll, of Hot Spot Property Group
2023
Sold
$345,000
07 May 2023 by Ofer Rotkopf, of Pagan Real Estate

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, 581 one-bedroom apartments similar to 508/471 Little Bourke Street, have been sold.

This represents a 18% 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 14 local sales and collected 19 local reviews across the last 12 months.

  •   5   (380 reviews)
  •  19 Reviews in Melbourne
  •  14 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   (240 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   (121 reviews)
  •  18 Reviews in Melbourne
  •  15 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   (60 reviews)
  •  9 Reviews in Melbourne
  •  12 Sales in Melbourne
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