421/42 Porter Street, Prahran, VIC 3181 | Studio for sale | OnTheHouse
 
FOR SALE
$169,900

421/42 Porter Street
Prahran VIC 3181

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Land area: 20m2
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Front-Facing Student Apartment with CBD Views - Approx. 11% Gross Return anticipated in 2026

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 1–5, offering investors a secure, high-yield asset in one of Melbourne’s premier lifestyle and education precincts.
With international students returning in record numbers and Melbourne’s tertiary demand on the rise, rental yields across this sector continue to strengthen. The property is currently leased at $17,208 P.A. until February 2026, with an anticipated market rent of approximately $18,720 P.A. thereafter — reinforcing the growth potential for incoming investors.
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 1–5
Secure building with lift access, intercom, communal lounge, and laundry facilities
Front-facing position with elevated leafy and CBD outlook
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Property Details for 421/42 Porter St, Prahran

421/42 Porter St, Prahran is a 1 bedroom, 1 bathroom Studio. The property has a land size of 20m2. The place is currently for sale with Scott Banks.

Building Type
Studio
Land Size
20m2
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About Prahran 3181

The size of Prahran is approximately 1.9 square kilometres. It has 8 parks covering nearly 6.3% of 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 10,915 properties. Over the last 5 years, Houses in Prahran have seen a -0.75% decrease in median value, while Units have seen a 7.37% increase. As at 31 October 2025:

  • The median value for Houses in Prahran is $1,550,929 while the median value for Units is $554,307.
  • Houses have a median rent of $750 while Units have a median rent of $550.
There are currently 36 properties listed for sale, and 18 properties listed for rent in Prahran on OnTheHouse. According to Cotality's data, 615 properties were sold in the past 12 months in Prahran.

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Scott Banks
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