506/87 Franklin Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
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506/87 Franklin Street
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
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Last updated 9 Mar 2026
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Property Details for 506/87 Franklin St, Melbourne

506/87 Franklin St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2001.

Building Type
Unit
Year Built
2001
Local Government
Melbourne
Lot/Plan
506/PS411688

Last Listing description (October 2025)

Two Storey with Huge Balcony

Discover urban living at its finest in this spacious loft-style apartment, perfectly situated in the vibrant heart of Melbourne. Located in the sought-after Franklin Lofts Apartments, this residence offers unparalleled convenience, just moments from RMIT, Queen Victoria Market, and Melbourne Central Station.

Key Features:
Expansive open-plan lounge and kitchen with sleek European-style appliances

Cozy bedroom area with built-in robes
Modern tiled bathroom and upstairs laundry
Large private balcony, perfect for relaxation
Ample storage space, including under-stair storage
Access to on-site amenities: lap pool, gym, and sauna
Professional on-site building management for your peace of mind

Don't miss out-contact us today to arrange a private inspection.

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Property History for 506/87 Franklin St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
  • 14 Aug 2024
    Listed for Sale $420,000 - $440,000
  • 07 May 2021
    Listed for Rent $300 per week
  • 29 Sep 2020
    Listed for Rent $370 per 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 64,234 properties. Over the last 5 years, Houses in Melbourne have seen a 33.17% increase in median value, while Units have seen a -4.37% decrease. As at 28 February 2026:

  • The median value for Houses in Melbourne is $1,808,781 while the median value for Units is $436,528.
  • Houses have a median rent of $650 while Units have a median rent of $675.
There are currently 255 properties listed for sale, and 179 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2768 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.

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.

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