506/551 Flinders Lane, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
OFF MARKET

506/551 Flinders Lane
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 53m2
Land area: 858m2
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Last updated 13 Apr 2026
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Property Details for 506/551 Flinders Lane, Melbourne

506/551 Flinders Lane, Melbourne is a 2 bedroom, 1 bathroom Unit and was built in 2000. The property has a land size of 858m2 and floor size of 53m2. While the property is not currently for sale or for rent, it was last sold in April 2021.

Building Type
Unit
Year Built
2000
Floor Size
53m2
Land Size
858m2
Local Government
Melbourne
Lot/Plan
506/PS414504

Last Listing description (December 2022)

In a superb position moments to the Yarra River, fantastic dining, and the city's financial hub, this apartment is located in "Morgan Place", with a swimming pool, gym & sauna. The property also features:
- Raised kitchen with granite bench top, gas cooking, and dishwasher
- Timber floorboards throughout the living & kitchen

- Modern white shutters for privacy and natural light
- Double bedroom with mirrored BIR
- Ensuite bathroom
- Secure entrance with intercom system

Accommodation: With timber floors underfoot, the open lounge enjoys a northerly outlook over Flinders Lane, while the raised kitchen area features black granite benchtops, stainless steel appliances, and a dishwasher. The spacious double bedroom includes mirrored built-in robes and an adjoining ensuite.

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Property History for 506/551 Flinders Lane, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$360,000
18 Apr 2021
Listed for Rent
$500/w
07 Dec 2022
  • 07 Dec 2022
    Listed for Rent $500 / week
  • 02 Aug 2022
    Listed for Rent $450 / week
  • 18 Apr 2021
    Sold for $360,000
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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 64,271 properties. Over the last 5 years, Houses in Melbourne have seen a -6.38% decrease in median value, while Units have seen a -4.97% decrease. As at 31 March 2026:

  • The median value for Houses in Melbourne is $1,346,319 while the median value for Units is $439,159.
  • Houses have a median rent of $700 while Units have a median rent of $672.
There are currently 274 properties listed for sale, and 167 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2687 properties were sold in the past 12 months in Melbourne.

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© Copyright 2026. 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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