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

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 120m2
Land area: 1433m2
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Property Details for 218 Elgin St, Carlton

Building Type
Commercial
Year Built
2004
Floor Size
120m2
Land Size
1433m2
Local Government
Melbourne
Lot/Plan
32/PS446076

Last Listing description (August 2024)

Embark on an unparalleled investment journey with this exceptional opportunity, catering to savvy investors, and anyone looking set themselves up with commercial real estate investments.

This commercially leased premises features a fully fitted shop containing individually zoned office spaces / private rooms, kitchen and bathrooms for staff to make the workplace feel comfortable. Also including a generous storage area spanning approximately 50m2 that could easily create more income, or just be used for more storage for your business. This space being strategically situated in the heart of Carlton, offering an unmatched investment prospect with an annual rental return of $75,155.76 (not including storage area). It has a current 5-year lease in place, with a 5+5 year option.

Key Highlights:

Prime Location:
Benefit from the prime positioning, just a mere 250m from The University of Melbourne, RMIT, The Royal Melbourne Hospital, and the iconic Victoria Market. Surrounded by green spaces and recreational amenities, and within close proximity to the vibrant Lygon Street renowned for its diverse retail outlets and culinary delights.

Strategic Investment:
Enjoy the advantage of a prime Melbourne location coupled with great visibility and reach, ensuring a unique investment proposition.

Seamless Connectivity:
Experience seamless connectivity with excellent public transport options, courtesy of a major tram stop right at your doorstep. Direct access to Melbourne CBD is facilitated through tram routes 1 & 6, while the bus network via Lygon Street further enhances accessibility.

Lucrative Potential:
With a current annual rental income of $75,155.76 and potential increases on the horizon, seize the opportunity to maximise returns and unlock the full earning potential of this remarkable property.

Don't let this chance slip away; capitalise on the limitless possibilities offered by this distinguished inner-city commercial property, and leave your mark on Melbourne's dynamic real estate landscape.

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Property History for 218 Elgin St, Carlton, VIC 3053

A timeline of how this property has performed in the market
Listed for Rent
$862/w
16 Dec 2010
  • 02 May 2024
    Listed for Sale Contact Agent
  • 26 Nov 2010
    Listed for Rent - Price not available
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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 16,054 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 62 properties listed for sale, and 95 properties listed for rent in Carlton on OnTheHouse. According to Cotality's data, 658 properties were sold in the past 12 months in Carlton.

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Cotality Copyright and Legal Disclaimers about Property Data

© 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.

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.

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