1217/238 Flinders Street, Melbourne, VIC 3000 | Apartment for sale | OnTheHouse
FOR SALE
$245,000 - $260,000

1217/238 Flinders Street
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: -
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Impressive rental return of 10% approximately.

Prime Melbourne CBD Location
Currently returning $495 per week, this property delivers an attractive approximate gross rental yield of 10%, making it an exceptional addition to any investment portfolio.
Perfectly positioned in the heart of Melbourne's CBD, this well-appointed apartment combines strong rental demand with unbeatable lifestyle convenience. Offering a functional layout with generous natural light, the residence includes a spacious living and sleeping area, dedicated study space, built-in storage, and a practical kitchen and bathroom designed for low-maintenance living.
Residents enjoy access to premium communal facilities including a laundry, multifunction room, study zone, bike storage, secure entry, and professional reception services-enhancing tenant appeal and long-term occupancy stability.
Key Investment Features:
• Strong approx. 10% gross rental yield
• Current rental income: $495 per week
• High-demand CBD location ensuring consistent tenant interest
• Gas and water included in tenancy (added value for tenants)
• Fully furnished inclusions (fridge/freezer, study desk, storage)
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Property Details for 1217/238 Flinders St, Melbourne

1217/238 Flinders St, Melbourne is a 1 bedroom, 1 bathroom Apartment. The place is currently for sale with Ray White Southbank | Port Phillip.

Building Type
Apartment
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About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. There are 9 parks, covering nearly 2.5% of the total area. The population of Melbourne in 2016 was 47285 people. By 2021 the population was 54941 showing a population growth of 16.2% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation.In 2021, 25.80% of the homes in Melbourne were owner-occupied compared with 29.00% in 2016.

Melbourne has 64,373 properties. Over the last 5 years, Houses in Melbourne have seen a 1.23% increase in median value, while Units have seen a -5.07% decrease. As at 31 May 2026:

  • The median value for Houses in Melbourne is $1,426,624 while the median value for Units is $434,769.
  • Houses have a median rent of $718 while Units have a median rent of $680.
There are currently 304 properties listed for sale, and 188 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2597 properties were sold in the past 12 months in Melbourne.

Suburb Insights for Melbourne 3000

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Max Hui
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Ray White Southbank | Port Phillip
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Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.