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Back 707/243 Franklin Street
Off Market

707/243 Franklin Street

Melbourne VIC 3000

1
1
25 m²
Apartment
Last sold for $230,000
Ali AkhanovAli Akhanov, last sold this property on 21 August 2026 after 4 days on market.

Overview

Affordable CBD Investment with Strong Rental Potential

Positioned in the heart of Melbourne CBD, this recently refreshed one-bedroom apartment presents an affordable opportunity for both owner-occupiers and investors looking for a centrally located property with strong rental potential. Currently vacant and ready to move into, the apartment is fully furnished, freshly painted and features brand-new carpet, making it an easy option for buyers wanting a low-maintenance city home or a ready-to-rent investment. Located at 243 Franklin Street, the apartment is within easy walking distance of Queen Victoria Market, RMIT University, Melbourne Central, Flagstaff Gardens and Melbourne's extensive tram network. With an estimated rental potential of approximately $500 per week, the property offers an attractive gross rental return at this price point. The apartment features a practical layout with a separate bedroom, bathroom, kitchen and private balcony, making efficient use of its compact footprint. Property features: One bedroom One bathroom Private balcony Approx. 25 sqm Recently refreshed throughout Freshly painted with brand-new carpet Fully furnished Currently vacant and ready to move into Estimated rental potential of approximately $500 per week Affordable entry point into the Melbourne CBD property market Walking distance to Queen Victoria Market Close to RMIT University and Melbourne Central Easy access to trams, trains, shops, cafés and restaurants Ideal for investors and owner-occupiers Whether you're looking for an affordable place to call home in Melbourne CBD or a centrally located investment with strong rental potential, this apartment is well worth considering. Disclaimer: Some images have been digitally enhanced and/or virtually staged using AI for presentation purposes, including the addition of bedding, plants and decorative items. These items may not be included with the property. Photos and floor plans are provided for reference purposes only. Buyers should conduct their own due diligence and independently verify all information before making a purchase decision.

Features

1 bedroom
1 bathroom
25 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 707/243 Franklin Street is $355k.

Median value
$355k
Estimated value range
$39k - $935k
Median days on market
35
Estimated value trend
4%
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 707/243 Franklin Street

2026
Sold
$230,000
Private Sale/Treaty on 21 Aug 2026 by Ali Akhanov, of Elite Real Estate on Elizabeth
2020
Rented
Undisclosed
Leased on 28 Jul 2020 by Areal Property Box Hill

Happy sellers in Melbourne

83%
83% 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 125 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 584 one-bedroom apartments similar to 707/243 Franklin Street, have been sold.

This represents a 9% 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 31 local reviews across the last 12 months.

  •   5   (401 reviews)
  •  31 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   (242 reviews)
  •  15 Reviews in Melbourne
  •  32 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   (127 reviews)
  •  18 Reviews in Melbourne
  •  14 Sales in Melbourne
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Lizzie Zhang

Lizzie Zhang is a recommended agent for Melbourne.  They have 12 local sales and collected 9 local reviews across the last 12 months.

  •   5   (13 reviews)
  •  9 Reviews in Melbourne
  •  12 Sales in Melbourne
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