421/42 Porter StreetPrahran VIC 3181
Property Details for 421/42 Porter St, Prahran
421/42 Porter St, Prahran is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2012. The property has a land size of 20m2 and floor size of 68m2. While the property is not currently for sale or for rent, it was last sold in April 2012.
Last Listing description (July 2026)
Available - Rented until 2 January 2027 $17,420 P.A
A standout in the student accommodation market, 421/42 Porter Street, Prahran delivers an exceptional blend of location, lifestyle, and investment strength. Positioned at the front of the building with CBD views, this Level 4 apartment sits within a purpose-built student complex - Levels 15, offering investors a secure, high-yield asset in one of Melbournes premier lifestyle and education precincts.
With international students returning in record numbers and Melbournes tertiary demand on the rise, rental yields across this sector continue to strengthen. Rent
Property Highlights
Fully furnished 1-bedroom apartment with open-plan living and bedroom area, plus private balcony
Separate bedroom area with built-in robe and shelving
Sleek kitchen with gas cooktop, microwave, dishwasher and ample storage
Central bathroom with modern fittings and a functional layout
Purpose-built for students on Levels 15
Secure building with lift access, intercom, communal lounge, and laundry facilities
Front-facing position with elevated leafy and CBD outlook
Location Advantage
Just 2 minutes to Prahran Station direct CBD and university access
Steps from Chapel Street, Greville Street, and Prahran Market
Surrounded by cafs, parks, nightlife, and tram routes
Easy reach of Melbourne Polytechnic, Swinburne, RMIT, and other tertiary hubs
Investment Snapshot
Price: $169,900
Indicative Anticipated Gross Return: Approximately 10.2 % p.a.
Outgoings: Strata $1,963.60 p.a.
Council $480 p.a.
Water $640 p.a.
Leased: With a secure income stream
Investor Note:
Front-facing apartments in this complex are tightly held and consistently sought after for their light, city views, and rental performance. With low outgoings, strong yield fundamentals, and potential rent growth, this represents an affordable, set-and-forget investment within Melbournes most vibrant student corridor.
Contact us today for further Information on this quality, affordable investment and to arrange a private inspection.
Disclaimer: Figures are indicative only and based on past performance. This information is general in nature and does not constitute financial or legal advice. Prospective purchasers are encouraged to conduct their own due diligence and independent research before making any investment decision.
Images shown are of the building and comparable apartments within the complex; they may not depict the exact layout or furnishings of this specific apartment. Buyers should inspect the property in person to verify details and condition.
Property History for 421/42 Porter St, Prahran, VIC 3181
- 10 Jul 2026Sold
- 20 Nov 2025Listed for Sale $169,900
- 16 Sep 2024Listed for Rent $330 / week
Recent sales nearby
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0About Prahran 3181
The size of Prahran is approximately 1.9 square kilometres. There are 8 parks, covering nearly 6.3% of the total area. The population of Prahran in 2016 was 12982 people. By 2021 the population was 12203 showing a population decline of 6.0% in the area during that time. The predominant age group in Prahran is 30-39 years. Households in Prahran are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Prahran work in a professional occupation.In 2021, 43.60% of the homes in Prahran were owner-occupied compared with 39.30% in 2016.
Prahran has 11,120 properties. Over the last 5 years, Houses in Prahran have seen a -14.33% decrease in median value, while Units have seen a -2.26% decrease. As at 30 June 2026:
- The median value for Houses in Prahran is $1,578,483 while the median value for Units is $543,695.
- Houses have a median rent of $920 while Units have a median rent of $585.
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