401/589 Elizabeth Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
OFF MARKET

401/589 Elizabeth Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Floor area: 64m2
Land area: 507m2
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Property Details for 401/589 Elizabeth St, Melbourne

401/589 Elizabeth St, Melbourne is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2014. The property has a land size of 507m2 and floor size of 64m2. While the property is not currently for sale or for rent, it was last sold in May 2017.

Building Type
Unit
Year Built
2014
Floor Size
64m2
Land Size
507m2
Local Government
Melbourne
Lot/Plan
401/PS646121

Last Listing description (February 2025)

Modern Furnished Apartment in the Heart of Melbourne

Perfectly positioned within walking distance of Melbourne?s top attractions, this stylish and fully furnished apartment offers the ideal blend of comfort, convenience, and contemporary living. Situated just moments from the Queen Victoria Market, Flagstaff Gardens, RMIT, Melbourne University, and the Royal Melbourne Hospital, this residence is an excellent choice for professionals, couples, or small families. With trams at your doorstep, you?ll enjoy seamless access to the vibrant CBD and beyond.

Apartment Features:

- Two spacious bedrooms with built-in robes, main with private balcony
- Open-plan living and dining area with enclosed balcony for added space
- Floor-to-ceiling windows flooding the interior with natural light
- Stylish kitchen featuring stone benchtops, gas cooktop, and quality appliances
- Modern central bathroom with sleek fixtures and fittings
- Split-system heating and air conditioning for year-round comfort

Unbeatable Location:
- Steps from Queen Victoria Market, Lygon Street?s renowned eateries, and Carlton Gardens
- Easy access to Melbourne University, RMIT, and the Royal Melbourne Hospital
- Close to the Royal Exhibition Building, Melbourne Museum, and the bustling city centre
- Convenient public transport options right at your door
- Offering breathtaking city views and a cleverly designed layout to maximize space, this residence is perfect as a city base.

Enquire today to secure this incredible opportunity in the heart of Melbourne!

- IMPORTANT* Whilst every care is taken in the preparation of the information contained in this marketing, Cedar Elm Property, will not be held liable for any error in typing or information. All information is considered correct at the time of advertising. Prior to applying for the property, please ensure any specific requirements have been discussed with your preferred service providers.

Please book an inspection time or contact the agent if you would like to inspect this property. By registering for an inspection, you will be instantly informed of any updates, changes or cancellations for your appointment.

Property History for 401/589 Elizabeth St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$520,000
09 May 2017
  • 30 Jan 2025
    Listed for Rent - Price not available
  • 09 May 2017
    Sold for $520,000
  • 20 Apr 2017
    Listed for Sale Private Sale
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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 64,229 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 252 properties listed for sale, and 232 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2748 properties were sold in the past 12 months in Melbourne.

Suburb Insights for Melbourne 3000

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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.