506/591-593 Elizabeth Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
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506/591-593 Elizabeth Street
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 15m2
Land area: 300m2
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Last updated 2 Feb 2026
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Property Details for 506/591-593 Elizabeth St, Melbourne

506/591-593 Elizabeth St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2008. The property has a land size of 300m2 and floor size of 15m2. While the property is not currently for sale or for rent, it was last sold in August 2019.

Building Type
Unit
Year Built
2008
Floor Size
15m2
Land Size
300m2
Local Government
Melbourne
Lot/Plan
506/PS544422

Last Listing description (October 2023)

Located close to Melbourne university and RMIT this modern studio apartment has everything the inner city dweller could need. Coming fully furnished and with air-conditioning this is the ideal home away from home in a quality and popular building.

Inside the apartment is well appointed with kitchenette, bathroom and balcony off the bedroom. A secure building it is serviced by a lift and also includes a laundry on the ground floor. The well maintained building has bicycle storage and an outdoor communal area.

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Property History for 506/591-593 Elizabeth St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$150,000
15 Aug 2019
Listed for Rent
$275/w
04 Aug 2020
  • 16 Aug 2023
    Listed for Rent $320 / week
  • 26 Oct 2020
    Listed for Rent $275 / week
  • 16 Jul 2020
    Listed for Rent $275 / week
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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 64,274 properties. Over the last 5 years, Houses in Melbourne have seen a 51.77% increase in median value, while Units have seen a -4.12% decrease. As at 31 January 2026:

  • The median value for Houses in Melbourne is $2,008,911 while the median value for Units is $433,734.
  • Houses have a median rent of $650 while Units have a median rent of $675.
There are currently 263 properties listed for sale, and 331 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2794 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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