501/118 Russell Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
OFF MARKET

501/118 Russell Street
Melbourne VIC 3000

Bedrooms: 3
Bathrooms: 2
Car spaces: 1
Floor area: 130m2
Land area: 1211m2
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Property Details for 501/118 Russell St, Melbourne

501/118 Russell St, Melbourne is a 3 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2007. The property has a land size of 1211m2 and floor size of 130m2. While the property is not currently for sale or for rent, it was last sold in February 2025.

Building Type
Unit
Year Built
2007
Floor Size
130m2
Land Size
1211m2
Local Government
Melbourne
Lot/Plan
501/PS428294

Last Listing description (March 2025)

A stunning celebration of family-sized elegance, this immaculate 3 bedroom, 2 bathroom apartment reveals exquisite refinement in the tightly held Hero building cornering Little Collins Street. From your doorstep, the Paris-end neighbourhood will simply redefine the way you live. Stroll to Treasury Gardens greenery, free city trams, Flinders Street trains, QV shopping, the theatre district, world-class eateries, and the twin delights of Postal Hall and Brioche by Philip cafes on the ground floor. The location has been further invigorated by the recent addition of neighbouring Melbourne Place staging basement bar Mr Mills, the culinary delights of Marmelo, and the rooftop glamour of Mid Air. This is quintessential Melbourne!

Pieced together on the fifth floor by market leaders Fender Katsalidis (Eureka Tower and MONA), glide over solid oak floorboards and immerse yourself in the generous dimensions and neutral tones of the light-filled living and dining areas. The chef-friendly kitchen is a top-of-the-range triumph with black granite surfaces, an inviting island bench, and upgraded appliances including a Smeg induction cooktop and an AEG oven and dishwasher. Make a seamless transition to an undercover balcony and feel the heartbeat of the city in an elevated setting showcasing a blissful backdrop of heritage buildings, church spires and leafy treetops. This prestigious perch is a rare luxury in the Hero complex and will be used on a daily basis.

All three bedrooms are substantial in size with the palatial main enjoying a private ensuite with a deep-soaking bathtub. The primary bathroom boasts floor-to-ceiling tiles, mirrored cabinetry and marble detailing. Superbly set over a wide-reaching 135sqm internally (approx.), comprehensive features include a large dual-access laundry, secure car parking, ducted heating and cooling throughout, roller blinds, textured curtains, recessed down-lighting, intercom security, and lift access. An inspection of this very special property will be rewarded!

* Photo identification will be required upon entering the property. Please contact our agent for your personal tour of this home today.

Outgoings:
Council Rates: $637.54 per quarter approx.
Water Rates: $179.93 per quarter approx.
Owners Corporation Fees: $2,599.10 per quarter approx.

Potential Rental Return:
$1200 per week approx.

Property History for 501/118 Russell St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$1,500,000
22 Feb 2025
Listed for Rent
$795/w
08 May 2012
  • 22 Feb 2025
    Sold for $1,500,000
  • 30 Jan 2025
    Listed for Sale $1,500,000
  • 07 Dec 2013
    Sold for $950,000
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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 64,298 properties. Over the last 5 years, Houses in Melbourne have seen a 5.76% increase in median value, while Units have seen a -4.47% decrease. As at 30 April 2026:

  • The median value for Houses in Melbourne is $1,457,082 while the median value for Units is $442,735.
  • Houses have a median rent of $700 while Units have a median rent of $675.
There are currently 304 properties listed for sale, and 171 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2660 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.