307/118 Russell Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
OFF MARKET

307/118 Russell Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 92m2
Land area: 1211m2
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Last updated 19 Jan 2026
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Property Details for 307/118 Russell St, Melbourne

307/118 Russell St, Melbourne is a 2 bedroom, 1 bathroom Unit and was built in 1960. 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 March 2021.

Building Type
Unit
Year Built
1960
Floor Size
92m2
Land Size
1211m2
Local Government
Melbourne
Lot/Plan
307/PS428294

Last Listing description (March 2021)

Situated in one of Melbourne's most renowned Paris-end residential buildings, this apartment will excite those wanting it all. Formerly a modernist telephone exchange and post office, the Hero Apartments is a fascinating conversion for contemporary living by the notable architect Nonda Katsalidis.

Upon entry to this apartment, you are immediately drawn to the soaring ceilings and windows that allow natural light in abundance to stream through. Featuring brand new quality carpets throughout, you will feel right at home with plenty of space to entertain your guests. As you move upstairs, you will be wowed by the sprawling master suite that is bigger than many CBD apartments. This space works perfectly for those wanting the flexibility to create a home office and work from home.
A second bedroom downstairs rounds out the accommodation with built-in robes and under stair storage. Every opportunity to maximise storage has been capitalised on in this apartment.

The sparkling bathroom features a bathtub to soak away in after a long day, these are all key elements that are not incorporated into modern-day developments. The streamlined kitchen includes a dishwasher and a separate laundry area. Your split system air conditioning ensures year-round comfort while the state-of-the-art video intercom gives privacy and security.

From these magnificent surroundings, you can step out of the lift and be at the worlds best restaurants, designer stores, and the latest show at the theatre within minutes.

With a dedication to sustainability, the building offers bicycle storage, rooftop solar panels, a worm farm, a charity bin, and a swap area.

The Hero building continues to capture the imagination of many and grace the Melbourne streetscape. A building with tremendous architectural merit, the perfect combination that has created an outstanding and proven City residential experience complete with a full-time building manager on-site.

Property History for 307/118 Russell St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$718,000
11 Mar 2021
  • 11 Mar 2021
    Sold for $718,000
  • 08 Feb 2021
    Listed for Sale UNDER OFFER
  • 29 May 2006
    Sold for $265,000
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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 64,289 properties. Over the last 5 years, Houses in Melbourne have seen a 51.22% increase in median value, while Units have seen a -4.06% decrease. As at 31 December 2025:

  • The median value for Houses in Melbourne is $2,044,589 while the median value for Units is $436,832.
  • Houses have a median rent of $640 while Units have a median rent of $670.
There are currently 240 properties listed for sale, and 362 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2739 properties were sold in the past 12 months in Melbourne.

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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.