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Off Market

602/591-593 Elizabeth Street

Melbourne VIC 3000

1
1
Apartment
Last sold for $145,000
Zeno KobicaZeno Kobica, last sold this property on 25 February 2026 after 54 days on market.

Overview

High-Yield Student Accommodation Investment

An excellent opportunity to secure a well-performing student accommodation investment in a prime Melbourne CBD location, delivering a strong rental return of approximately $380 per week. Designed specifically for student living, the apartment features a smart and functional layout comprising a light-filled bedroom, private ensuite bathroom, kitchenette, dedicated study area, and a balcony. The space is practical, easy to maintain, and well suited to consistent student demand. The building itself is well regarded within the student market, offering shared facilities and a distinctive exterior that appeals to both local and international students. Positioned just moments from public transport, major universities, retail precincts, and everyday amenities, this location continues to attract reliable tenant demand year after year. Outgoings include: General Council Rates approx: $152/quarter* Water Services approx: $551/annum* Owners Corp Fee approx: $2722/annum* *Please confirm these figures with the Section 32. This is a guide only Student-only accommodation remains a niche asset class with limited lending options, making strong cash flow and proven rental performance key. This property ticks both boxes and represents a straightforward, set-and-forget style investment. A solid option for investors seeking yield, consistency, and exposure to Melbourne’s established student rental market. Call now to secure this opportunity. ------ Disclaimer: Images are digitally edited and contain styled furniture for display purposes only. We have, in preparing this document, used our best endeavors to ensure that the information contained is accurate. Images with staged furnishings as indicated on the photos. Prospective purchasers should independently verify all information provided and consult the due diligence checklist provided by Consumer Affairs Victoria

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 602/591-593 Elizabeth Street is $344.58k.

Median value
$344.58k
Estimated value range
$39k - $935k
Median days on market
36
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 602/591-593 Elizabeth Street

2026
Sold
$145,000
25 Feb 2026 by Zeno Kobica, of Viva Property

Happy sellers in Melbourne

84%
84% 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 133 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 602/591-593 Elizabeth Street, have been sold.

This represents a 14% increase in one-bedroom apartments sales when compared to the previous 12 months.

Nearby agents

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Dionne Wilson

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Philip Middlemiss

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Catherine Sheo

Catherine Sheo is a recommended agent for Melbourne.  They have 11 local sales and collected 8 local reviews across the last 12 months.

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