Back 509/118 Franklin Street
Off Market

509/118 Franklin Street

Melbourne VIC 3000

1
1
1
1592 m²
Apartment
Last sold for $245,000
Taylor SimsTaylor Sims, last sold this property on 05 July 2026 after 32 days on market.

Overview

High Yield Studio Apartment with Highly Desirable Car Park the Heart of the CBD

• Positioned within one of Melbourne's most convenient lifestyle precincts • Functional open plan studio layout • Private balcony with natural light and urban outlooks • Split-system heating and cooling • Secure intercom entry • Secure car park included • Low-maintenance and low outgoings asset with high tenant demand • Walking distance to Queen Victoria Market, Melbourne Central, RMIT University, cafes, restaurants, and public transport Positioned in the heart of Melbourne's vibrant CBD, this well-presented studio apartment at Stargate Apartments delivers low-maintenance living with exceptional convenience and strong investment appeal. Ideally located moments from Queen Victoria Market, RMIT University, Melbourne Central, renowned dining precincts, and multiple public transport options, this is an outstanding opportunity to secure a quality city residence in a highly sought-after location. Thoughtfully designed for comfortable inner-city living, the light-filled studio offers a functional and inviting space complete with room for living, dining, and sleeping zones. Sliding doors open to a private balcony provide airflow and light to flow through the apartment. The property is also fit with a simple kitchen and spacious bathroom. Additional features include split-system heating and cooling, mirrored built-in robes, secure intercom entry and the highly desirable inclusion of a secure car park. Whether you are searching for a first city home, Melbourne base, or a strong-performing investment, this apartment presents an exceptional opportunity in one of Melbourne's most connected lifestyle precincts.

Features

1 bedroom
1 bathroom
1 carspace
1 garage space
1592 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 509/118 Franklin Street is $350.13k.

Median value
$350.13k
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 509/118 Franklin Street

2026
Sold
$245,000
05 Jul 2026 by Taylor Sims, of Ray White Southbank | Melbourne City
2015
Sold
$220,000
Private Sale/Treaty on 30 Jun 2015 by Don Gallicchio CEA, of Galldon 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 120 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 577 one-bedroom apartments similar to 509/118 Franklin 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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