507/253 Franklin StreetMelbourne VIC 3000
Property Details for 507/253 Franklin St, Melbourne
507/253 Franklin St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2012. The property has a land size of 1660m2 and floor size of 22m2. While the property is not currently for sale or for rent, it was last sold in October 2016.
Last Listing description (October 2016)
Smart Investors take note.....if you are looking for one of Melbourne's best returns, look no further. This studio apartment represents huge value and could potentially secure a 13% rental yield. Currently leased as short stay accommodation, this immaculately presented property offers separate bathroom, cooking facilities and balcony. The apartment will come fully furnished with TV, bed, cooking facilities, kitchen utensils, crockery, cutlery and other furniture, so it will be ready to go from day one.
The location speaks for itself being right next to the Queen Victoria Market, on the doorstep of the CBD, a short tram ride to universities and hospitals and fantastic access to all of Melbourne's tourist attractions. You will never have trouble finding tenants and will very rarely have the apartment vacant if offering a short stay option.
OFFERS CLOSE ON THE 16th of OCTOBER
Property History for 507/253 Franklin St, Melbourne, VIC 3000
- 12 Oct 2016Sold for $210,000
- 19 Sep 2016Listed for Sale OFFERS OVER $200,000
- 09 Sep 2014Listed for Rent - Price not available
Recent sales nearby
See more recent sales nearby/assets/perm/mwzulk77imi6tfho7nqzhhn2q4?signature=093a5fa74cc2ad192f646ffbe2291f26236044a80c30773aba6f77c42116aa43){kind=logo}
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0About 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 64,229 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.
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