501/589 Elizabeth Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
OFF MARKET

501/589 Elizabeth Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 2
Car spaces: -
Floor area: 66m2
Land area: 507m2
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Last updated 22 Dec 2025
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Property Details for 501/589 Elizabeth St, Melbourne

501/589 Elizabeth St, Melbourne is a 2 bedroom, 2 bathroom Unit and was built in 2014. The property has a land size of 507m2 and floor size of 66m2. While the property is not currently for sale or for rent, it was last sold in August 2018.

Building Type
Unit
Year Built
2014
Floor Size
66m2
Land Size
507m2
Local Government
Melbourne
Lot/Plan
501/PS646121

Last Listing description (July 2022)

UNFURNISHED - This spacious and bright two bedroom and two bathroom apartment, a stone's throw away from Victoria Market, is a must to inspect!

Apartment Includes:

- Open plan living and dining area
- Plenty of natural light in living area and master bedroom
- Master bedroom with ensuite
- Large galley kitchen with Bosch stainless steel cooktop and oven
- Reverse cycle air-conditioning and heating
- Microwave
- Fridge
- Integrated dishwasher
- Washing machine and dryer in a concealed laundry space
- Separate study area
- Spacious built-in-robes to both bedrooms.

Additional features include security fob access with intercom.

This spacious unfurnished apartment is in prime location within walking distance to Queen Victoria Market, Emporium, Melbourne Central, cafes and restaurants. It is also in the free tram zone with trams just a short walk down the street. Enjoy all that this stunning abode has to offer! Register to inspect now!

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Property History for 501/589 Elizabeth St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$540,000
23 Aug 2018
Listed for Rent
$550/w
14 Jul 2022
  • 09 Jun 2022
    Listed for Rent $550 / week
  • 06 Jan 2021
    Listed for Rent $330 / week
  • 19 Nov 2019
    Listed for Rent - Price not available
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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 64,228 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 251 properties listed for sale, and 231 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2747 properties were sold in the past 12 months in Melbourne.

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© Copyright 2025. 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.

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