512/118 Russell Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
OFF MARKET

512/118 Russell Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 74m2
Land area: 1211m2
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Last updated 16 Mar 2026
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Property Details for 512/118 Russell St, Melbourne

512/118 Russell St, Melbourne is a 2 bedroom, 1 bathroom Unit and was built in 1954. The property has a land size of 1211m2 and floor size of 74m2. While the property is not currently for sale or for rent, it was last sold in April 2019.

Building Type
Unit
Year Built
1954
Floor Size
74m2
Land Size
1211m2
Local Government
Melbourne
Lot/Plan
512/PS428294

Last Listing description (May 2019)

Covering an impressive 74m2 this North oriented, original condition home in the historic Hero apartments is the perfect opportunity for owners looking to add their own panache. Built in 1954 as Melbourne's Postal and Telephone Exchange and reimagined by renowned firm Fender Katsalidis in 2002, it's ideal as is or would reward the prudent investor or occupier with an update.
Features include:
- Spacious bedrooms with excellent natural light

- Open plan living and dining areas create a wonderful sense of flow to the undercover balcony
- North facing balcony ideal for sunrise coffees and sunset drinks
- Sleek kitchen striking black tile and stone, stainless steel appliances including Smeg gas cooktop, electric oven and dishwasher
- Large bathroom with separate bath and shower
- Other features include, secure intercom, lift access and resident building manager
Situated at the Paris end of town you'll be able to take advantage of Melbourne's best fine dining, the theatre district and the nearby Fitzroy and Treasury Gardens.
Ownership in Hero is an enviable experience with an active community leading the way in improvement initiatives that include solar panels, The Green Your Laneway initiative, worm farms and so much more. We look forward to welcoming you to the community.
Whilst every care is taken to ensure accuracy of the sizes, plans & information contained herein no guarantees or warranties are given. Clients are required to make their own investigations, carefully check the formal legal documentation & seek independent professional legal advice.

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Property History for 512/118 Russell St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$535,000
02 Apr 2019
  • 02 Apr 2019
    Sold for $535,000
  • 29 Jan 2019
    Listed for Sale Not Disclosed
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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 64,245 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 247 properties listed for sale, and 165 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2775 properties were sold in the past 12 months in Melbourne.

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Cotality Copyright and Legal Disclaimers about Property Data

© 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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