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Back 602/589 Elizabeth St
Off Market

602/589 Elizabeth St

Melbourne VIC 3000

2
1
60 m²
Apartment
Anthony CiminoAnthony Cimino, last sold this property on 13 August 2026 after 57 days on market.

Overview

Everything Melbourne, Right Outside Your Door

Some addresses put you close to the action. This one places you right in the middle of it. Positioned within the popular E589 Apartments, this spacious two-bedroom residence offers the perfect blend of lifestyle, convenience and investment appeal. Whether you're searching for your first home, a city base or a smart addition to your portfolio, this is a location that continues to perform. Step outside and you're moments from Queen Victoria Market, RMIT University, The University of Melbourne, major hospitals, public transport and some of Melbourne's best cafés, restaurants and retail precincts. Inside, the well-designed floorplan offers excellent separation between the living and bedroom zones, creating a sense of space rarely found in inner-city apartments. The contemporary kitchen features stone benchtops, premium appliances and ample storage, while the light-filled living area flows seamlessly to a generous balcony with CBD views. Both bedrooms feature built-in robes and, importantly, natural light through external windows - a sought-after feature often missing from many city apartments. Currently leased until August and returning approximately $580 per week, this is an opportunity that appeals equally to owner-occupiers and investors looking to secure a quality asset in a blue-chip Melbourne location. Property Highlights Two bedrooms with built-in robes Both bedrooms feature external windows Spacious open-plan living and dining Stone kitchen with premium appliances Generous balcony with CBD views West-facing orientation Approx. 60sqm of internal living Secure apartment living Currently leased until August Rental return of approximately $580 per week Outgoings (approx.) Owners Corporation: $3,844 per annum Council Rates: $1,020 per annum Water Rates: $704 per annum Whether you're investing in Melbourne's future or securing a home in the heart of the city, this is an opportunity defined by location, convenience and long-term appeal.

Features

2 bedrooms
1 bathroom
60 m² floor area
Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Melbourne over the last 12 months, the estimated median property value of 602/589 Elizabeth St is $542.5k.

Median value
$542.5k
Estimated value range
$237k - $3m
Median days on market
47
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 602/589 Elizabeth St

2026
Sold
Undisclosed
13 Aug 2026 by Anthony Cimino, of Inner Real Estate NextRE
2025
Rented
Undisclosed
Leased on 28 Jul 2025 by Inner Real Estate NextRE
2024
Rented
Undisclosed
Leased on 01 Feb 2024 by Inner Real Estate NextRE

Happy sellers in Melbourne

85%
85% 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 131 reviews in Melbourne over the last 12 months.

Local market activity for 2 bedroom apartments in Melbourne

In the last 12 months, 782 two-bedroom apartments similar to 602/589 Elizabeth St, have been sold.

This represents a 12% increase in two-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 30 local reviews across the last 12 months.

  •   5   (399 reviews)
  •  30 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   (241 reviews)
  •  15 Reviews in Melbourne
  •  41 Sales in Melbourne
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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   (126 reviews)
  •  18 Reviews in Melbourne
  •  14 Sales in Melbourne
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Catherine Sheo

Catherine Sheo is a recommended agent for Melbourne.  They have 13 local sales and collected 10 local reviews across the last 12 months.

  •   5   (64 reviews)
  •  10 Reviews in Melbourne
  •  13 Sales in Melbourne
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