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Back 5408/500 Elizabeth St
Off Market

5408/500 Elizabeth St

Melbourne VIC 3000

1
1
Apartment
Last sold for $305,000
Tom PriorTom Prior, last sold this property on 29 October 2025 after 27 days on market.

Overview

High Level investment, in premium CBD location - with 8% ROI

Delivering the perfect blend of modern design, lifestyle appeal, and consistent rental returns, this stunning one-bedroom apartment presents an outstanding opportunity for savvy investors seeking a high-performing asset in one of Melbourne's most desirable locations. Perched high on Level 54, the apartment enjoys expansive city skyline views through floor-to-ceiling windows, flooding the interior with natural light and enhancing its elevated sense of space. A well-designed open-plan layout seamlessly connects the living and dining area to a private balcony, while the functional kitchen features sleek tiled finishes, quality appliances, and ample storage. The generously sized bedroom includes an openable window for fresh air and ventilation, while reverse-cycle heating and cooling ensure year-round comfort. Secure intercom entry, six high-speed lifts, and a 24/7 concierge in the stylish foyer complete the picture of inner-city convenience. Residents enjoy access to an impressive array of resort-style amenities, including a 25-metre indoor heated pool, fully equipped gym, spa, sauna, steam room, and private cinema. Investors will appreciate the strong rental return of $530 per week and low outgoings of approximately $1,080 per quarter (Owners Corporation: $743 | Council Rates: $216 | Water: $185), delivering an attractive yield in Melbourne's consistently high-demand rental market. Situated in the vibrant heart of the CBD, this property is surrounded by boutique cafes, renowned restaurants, shopping precincts, and entertainment options. Queen Victoria Market, Melbourne Central, major universities, and free trams are all just moments away. Whether you're expanding your portfolio or securing a reliable income stream, this property offers a turn-key investment with excellent rental appeal, spectacular views, and enduring growth potential. All care has been taken in the preparation of this material to ensure the information provided is accurate and reliable. However, we accept no responsibility and disclaim all liability for any errors, inaccuracies, omissions or misstatements contained herein. Purchasers are advised to conduct their own investigations to verify the details contained in this document. Some images may include virtual enhancements and are for illustrative purposes only. Buyers should also refer to the due diligence checklist provided by Consumer Affairs Victoria, available at: http://www.consumer.vic.gov.au/duediligencechecklist

Features

1 bedroom
1 bathroom
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 5408/500 Elizabeth St is $343.75k.

Median value
$343.75k
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 5408/500 Elizabeth St

2025
Sold
$305,000
29 Oct 2025 by Tom Prior, of BRADY residential
2025
Rented
Undisclosed
Leased on 04 Aug 2025 by BRADY residential
2025
Rented
Undisclosed
Leased on 21 Jan 2025 by BRADY residential

Happy sellers in Melbourne

80%
80% 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 135 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 5408/500 Elizabeth St, have been sold.

This represents a 15% increase in one-bedroom apartments sales when compared to the previous 12 months.

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