509/118 Franklin Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
FOR RENT

509/118 Franklin Street
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 25m2
Land area: 1592m2
This property is currently on the market
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Property Details for 509/118 Franklin St, Melbourne

509/118 Franklin St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2001. The property has a land size of 1592m2 and floor size of 25m2.This Property is currently listed for rent with MICM Real Estate - Southbank

Building Type
Unit
Year Built
2001
Floor Size
25m2
Land Size
1592m2
Local Government
Melbourne
Lot/Plan
509/PS425500

Last Listing description (July 2026)

Positioned within one of Melbourne's most convenient lifestyle precincts Functional open plan studio layout Private balcony with natural light and urban outlooks Split-system heating and cooling Secure intercom entry Secure car park included Low-maintenance and low outgoings asset with high tenant demand Walking distance to Queen Victoria Market, Melbourne Central, RMIT University, cafes, restaurants, and public transportPositioned in the heart of Melbourne's vibrant CBD, this well-presented studio apartment at Stargate Apartments delivers low-maintenance living with exceptional convenience and strong investment appeal. Ideally located moments from Queen Victoria Market, RMIT University, Melbourne Central, renowned dining precincts, and multiple public transport options, this is an outstanding opportunity to secure a quality city residence in a highly sought-after location.Thoughtfully designed for comfortable inner-city living, the light-filled studio offers a functional and inviting space complete with room for living, dining, and sleeping zones. Sliding doors open to a private balcony provide airflow and light to flow through the apartment. The property is also fit with a simple kitchen and spacious bathroom. Additional features include split-system heating and cooling, mirrored built-in robes, secure intercom entry and the highly desirable inclusion of a secure car park.Whether you are searching for a first city home, Melbourne base, or a strong-performing investment, this apartment presents an exceptional opportunity in one of Melbourne's most connected lifestyle precincts.

Property History for 509/118 Franklin St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$220,000
01 Jul 2015
Listed for Rent
$400/w
07 Mar 2023
  • 06 Jul 2026
    Sold for $245,000
  • 03 Jun 2026
    Listed for Sale $240,000 - $264,000
  • 12 Jan 2026
    Listed for Rent $430 / week
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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 64,305 properties. Over the last 5 years, Houses in Melbourne have seen a -13.97% decrease in median value, while Units have seen a -2.46% decrease. As at 30 June 2026:

  • The median value for Houses in Melbourne is $1,470,997 while the median value for Units is $440,978.
  • Houses have a median rent of $710 while Units have a median rent of $680.
There are currently 309 properties listed for sale, and 193 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2590 properties were sold in the past 12 months in Melbourne.

Suburb Insights for Melbourne 3000

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Cotality Copyright and Legal Disclaimers about Property Data
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.