306/118 Russell Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
OFF MARKET

306/118 Russell Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 92m2
Land area: 1211m2
Estimated Value & Rent
Estimated Value
Estimated Rent
Confidence
Last updated 8 Dec 2025
Low

High
Save

Property Details for 306/118 Russell St, Melbourne

306/118 Russell St, Melbourne is a 2 bedroom, 1 bathroom Unit and was built in 1940. The property has a land size of 1211m2 and floor size of 92m2. While the property is not currently for sale or for rent, it was last sold in July 2022.

Building Type
Unit
Year Built
1940
Floor Size
92m2
Land Size
1211m2
Local Government
Melbourne
Lot/Plan
306/PS428294

Last Listing description (July 2022)

Proudly Sold by Gina Donazzan

First built in 1948 the Russell Street Telephone Exchange and Post Office was converted in 1999 and designed by Melbournes own Nonda Katsalidis into the highly regarded Hero Apartments, bearing all the distinctive flair that he is so renowned for. This building is not only of historic significance but is also located in the heart of Melbournes Paris-End, with the finest array of bars, eateries, theatres and shopping at your doorstep.

Arranged over 2 levels, spanning approx. 92sqm, this loft, warehouse-style residence boasts soaring ceiling heights and towering windows overlooking Little Collins Street. The entire upstairs level is a sprawling master bedroom- larger than some CBD apartments itself- with a quiet reading nook and study area completing this private oasis and offering the ideal flexible space to work from home if desired.

Downstairs a second spacious bedroom offers both BIRs and under stair storage, an added advantage to this thoughtful city home. The open-plan kitchen features dishwasher, gas stove and stylish stone benchtops, plus an array of cupboard space. Separate laundry adjacent to kitchen is a delightful addition. Huge bathroom with bathtub and separate, fully-tiled shower completes the residence.

Fitted with split-system air conditioning and wall heaters to ensure year-round comfort, the apartment has also been upgraded to state-of-the-art video intercom providing privacy and security. With a high percentage of active owner-occupiers, Hero Apartments is dedicated to sustainability, offering bicycle storage, rooftop solar panels, a worm farm, charity bin, and swap area. Residents also benefit from a dedicated on-site Building Manager, secure mail boxes and two recently upgraded lifts.

Property History for 306/118 Russell St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$725,000
05 Jul 2022
  • 05 Jul 2022
    Sold for $725,000
  • 24 Jun 2022
    Listed for Sale $690,000- $740,000
  • 03 Jul 2006
    Sold for $294,000
Sign in to see more transactions
Commute Calculator

About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of 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 64,207 properties. Over the last 5 years, Houses in Melbourne have seen a -25.47% decrease in median value, while Units have seen a -3.96% decrease. As at 30 November 2025:

  • The median value for Houses in Melbourne is $1,033,829 while the median value for Units is $440,645.
  • Houses have a median rent of $635 while Units have a median rent of $660.
There are currently 268 properties listed for sale, and 242 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2650 properties were sold in the past 12 months in Melbourne.

Suburb Insights for Melbourne 3000

Market Insights
Melbourne Trends for Houses
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Melbourne Trends for Units
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Neighbourhood Insights
Age
Household
Occupancy
No data to show
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.