162 Elgin Street, Carlton, VIC 3053 | Property Value & History | OnTheHouse
 
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162 Elgin Street
Carlton VIC 3053

Bedrooms: -
Bathrooms: -
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Land area: 125m2
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Property Details for 162 Elgin St, Carlton

Building Type
Commercial
Land Size
125m2
Local Government
Melbourne
Lot/Plan
1/TP696757

Last Listing description (November 2023)

Colliers Melbourne Investment Services are pleased to present this high-profile Carlton corner investment opportunity. 162 Elgin Street, Carlton is being offered For Sale by Public Auction on Tuesday 19th of December 2023 at 12:30pm AEDT.

The property is comprised of a two-level 230sqm* freehold offering that features exceptional exposure to both Elgin and Drummond Street, all on a desirable 125sqm* corner landholding with rear lane access and benefitting from favourable Commercial 1 Zoning.


The property is currently leased by RPM Gene Pty Ltd (trading as RPM Melbourne) and is returning annual income of $77,175 (excluding outgoings & GST). This income is set to increase to $95,000 per annum (excluding outgoings & GST) as of 01 April 2024, and a further lease option of three (3) years at the expiration of the current term.

162 Elgin Street is located just moments from one of Melbourne's finest lifestyle and entertainment precincts in Lygon Street, which features local favourites such as Brunetti, DOC Pizza, Carlton Wine Room, and Criniti's, as well as Lygon Court and all of its essential service offerings.

World Heritage renowned Carlton Gardens, Macarthur Square, and Murchison Square are all within minutes of the building, with tram services on Elgin, Lygon and Nicholson Street in close proximity.

- 230sqm* high exposure corner building
- 125sqm Commercial 1 zone land parcel
- Annual rent of $77,175.00 (plus outgoings & GST)
- Rear lane access
- World class lifestyle amenity within metres of your front door
- Close proximity to train and tram services


*approx.

To arrange an inspection or receive further information, please reach out to the exclusive selling agents today.

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Property History for 162 Elgin St, Carlton, VIC 3053

A timeline of how this property has performed in the market
Last Sold
$1,670,000
17 Sep 2014
  • 21 Nov 2023
    Listed for Sale Please contact agent
  • 17 Sep 2014
    Sold for $1,670,000
  • 19 Oct 1988
    Sold for $541,000
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About Carlton 3053

The size of Carlton is approximately 1.7 square kilometres. It has 9 parks covering nearly 20.9% of total area. The population of Carlton in 2016 was 18535 people. By 2021 the population was 16055 showing a population decline of 13.4% in the area during that time. The predominant age group in Carlton is 20-29 years. Households in Carlton are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Carlton work in a professional occupation.In 2021, 23.30% of the homes in Carlton were owner-occupied compared with 18.60% in 2016.

Carlton has 16,052 properties. Over the last 5 years, Houses in Carlton have seen a -2.64% decrease in median value, while Units have seen a -10.58% decrease. As at 31 December 2025:

  • The median value for Houses in Carlton is $1,509,181 while the median value for Units is $328,866.
  • Houses have a median rent of $675 while Units have a median rent of $550.
There are currently 58 properties listed for sale, and 97 properties listed for rent in Carlton on OnTheHouse. According to Cotality's data, 657 properties were sold in the past 12 months in Carlton.

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© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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