507/471 Little Bourke StreetMelbourne VIC 3000
Property Details for 507/471 Little Bourke St, Melbourne
507/471 Little Bourke St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1982. The property has a land size of 1171m2 and floor size of 45m2. While the property is not currently for sale or for rent, it was last sold in April 1999.
Last Listing description (March 2026)
Situated on the fifth floor and on the preferred Northern side on the front of the building, this is an oversized Studio apartment of approximately 45 square meters with open plan kitchen, dining and lounge area. In addition to this, there is a large bedroom area with mirrored robes and compact bathroom .The property offers a top floor gym and sauna, good security, a quality restaurant and bar situated just off the lobby, and a fantastic Melbourne location near the heart of the legal precinct.
The apartment is leased to Panache Hotel Group (PHG) with the lease running until March 2029, with four further 5-year options thereafter.
NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.
IMPORTANT INFORMATION:
RENT: $27,326 pa (Effective April 2026)
($521 per week approx)
INCREASE: Annual 3% between Market Reviews.
(Market Reviews every 2.5 years)
RETURN: 8:8% Gross
(7.5% Nett)
LEASE: Until March 2029
OPTIONS: Four Further 5-Year Options
TENANT (PHG) PAYS:
Owners Corporation Admin
Insurance
General maintenance
ESTIMATED OWNER'S OUTGOINGS:
O C Maintenance Fee: $1,650 pa
Council Rates: $1,135 pa
Water Rates: $984 pa
Inspection is by private appointment.
For further details please contact:
Nick Walters of Kingsford Property - 0438 557 885
Nick@kingsfordproperty.com.au
Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.
Property History for 507/471 Little Bourke St, Melbourne, VIC 3000
- 14 Mar 2026Listed for Sale $309,500
- 16 Jul 2025Listed for Sale $309,500
- 11 Nov 2024Listed for Sale $319,500
Recent sales nearby
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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 64,268 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.
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