511/118 Franklin Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
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511/118 Franklin Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 58m2
Land area: 1592m2
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Last updated 9 Mar 2026
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Property Details for 511/118 Franklin St, Melbourne

511/118 Franklin St, Melbourne is a 2 bedroom, 1 bathroom Unit and was built in 2001. The property has a land size of 1592m2 and floor size of 58m2.

Building Type
Unit
Year Built
2001
Floor Size
58m2
Land Size
1592m2
Local Government
Melbourne
Lot/Plan
511/PS425500

Last Listing description (September 2023)

This convenient and spacious 2 bedroom, 1 bathroom city abode is your next place to call home. Located only moments walk to The Queen Victoria Market, RMIT University, Melbourne's best shopping and dining precinct and public transport, the location could not get any better.

This fully furnished home is the perfect set up for your city life, comprising of all living, dining and bedroom furniture.


As you enter the property you are greeted by the light filled open plan living and kitchen area. The sleek kitchen features high-quality appliances and ample storage space, making cooking a breeze.

The two bedrooms are generously sized and offers a comfortable retreat with built-in wardrobes for all your storage needs. The bathroom is stylishly designed and includes modern fixtures and fittings. An added bonus is a balcony with inner city views.

Located in a well-maintained building, residents of 118 Franklin Street can enjoy access to a range of amenities, including a secure entrance, lift access, and onsite building manager.

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Property History for 511/118 Franklin St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Listed for Rent
$500/w
25 Sep 2023
  • 29 Aug 2023
    Listed for Rent $500 / week
  • 26 Aug 2014
    Listed for Rent - Price not available
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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 64,237 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 254 properties listed for sale, and 181 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2776 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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