604/589 Elizabeth Street, Melbourne, VIC 3000 | Property Value & History | OnTheHouse
 
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604/589 Elizabeth Street
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 57m2
Land area: 507m2
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Property Details for 604/589 Elizabeth St, Melbourne

604/589 Elizabeth St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2014. The property has a land size of 507m2 and floor size of 57m2. While the property is not currently for sale or for rent, it was last sold in February 2012.

Building Type
Unit
Year Built
2014
Floor Size
57m2
Land Size
507m2
Local Government
Melbourne
Lot/Plan
604/PS646121

Last Listing description (December 2025)

Showing off with an unbelievable location with the CBD, University of Melbourne, and renowned hospitals just moments away, this 1-bedroom residence is one to seriously consider. Located in 'E589 Apartments', this property displays wonderful modern character as well as excellent natural light and easterly views.

This really is the ultimate option for investors who dream of fantastic rental returns, while keen city dwellers will also be enticed by this contemporary oasis. The bright open plan living and dining zone is one to remember, and is where you can access the east-facing balcony that benefits from tree-lined street views below while also catching glimpses of parts of the city. Also included in the central living space is the long straight-line stone kitchen, which promises stone benchtops and stainless steel Bosch appliances. Affordable apartments in locations like this don't come around often, so don't miss out!

Long dedicated entry hallway

Relaxed bedroom just off the entry includes built-in robe storage
Well-appointed bathroom with quality detail
European laundry
Reverse cycle heating and cooling
Secure intercom entry
Not far from exceptional city bars, cafes, restaurants, and boutique shops
Easy access to North Melbourne with iconic cafes
Local parklands nearby includes University Square, Argyle Square, and Lincoln Square
Close to Queen Victoria Market and Flagstaff Gardens
Short trip to Royal Melbourne Hospital and Royal Children's Hospital
Moments to trams and Parkville Station

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Property History for 604/589 Elizabeth St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$420,000
03 Feb 2012
Listed for Rent
$465/w
04 Sep 2023
  • 26 Dec 2025
    Listed for Sale $349,000
  • 18 Sep 2025
    Listed for Rent $450 / week
  • 10 Jul 2023
    Listed for Rent $465 / 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 64,229 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.
There are currently 252 properties listed for sale, and 232 properties listed for rent in Melbourne on OnTheHouse. According to Cotality's data, 2748 properties were sold in the past 12 months in Melbourne.

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© Copyright 2025. 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.

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