501/28 Bank Street, South Melbourne, VIC 3205 | Property Value & History | OnTheHouse
OFF MARKET

501/28 Bank Street
South Melbourne VIC 3205

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Floor area: 81m2
Land area: 3774m2
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Property Details for 501/28 Bank St, South Melbourne

501/28 Bank St, South Melbourne is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 3774m2 and floor size of 81m2. While the property is not currently for sale or for rent, it was last sold in June 2025.

Building Type
Unit
Year Built
2000
Floor Size
81m2
Land Size
3774m2
Local Government
Port Phillip
Lot/Plan
501/PS429423

Last Listing description (June 2025)

Immersed in the all-day warmth of northern light, this impeccable 2 bedroom, 2 bathroom apartment is fully renovated with a spectacular focus on style, space and luxury. From your doorstep, embrace a stellar South Melbourne neighbourhood with convenience at its core. Simply stroll to the vibrant arts precinct, popular local restaurants, the Royal Botanic Gardens, Albert Park Lake, leading schools, Woolworths shopping, Anzac trains, and trams to the city or a bay beach. This is a location to treasure!

Prepare yourself for an overwhelming feeling of north-facing space with designated zones for open-plan living and dining. A stylish timber-topped kitchen is equipped with a breakfast bar, soft-closing cabinetry, tiled splashback, a large sink with retractable tapware, and upgraded stainless-steel appliances including a Bosch oven and a 4 burner gas cooktop. Set on the fifth floor of the tightly held Parkside complex, relax, dine and entertain on an undercover north-facing balcony showcasing views towards the city skyline with iconic Eureka Tower and Australia 108 forming a soaring centrepiece. This alfresco perch is a true game-changer! Peacefully separated by the living space, the generously sized and robed bedrooms are filled with light, superbly serviced by a primary bathroom boasting floor-to-ceiling tiles and a shower over a bathtub. The master suite is graced with palatial walk-in robes and a fully tiled ensuite.

Enriched by the addition of a large laundry room and perfectly placed storage solutions throughout, the long list of special features is exemplary. Take advantage of secure car parking, split-system heating and cooling, lightly toned floorboards, Venetian blinds, and recessed down-lighting. Prestigious Parkside is graced with intercom entry and resort-inspired access to a 25m indoor lap pool, tennis court, a fully equipped gym, and a BBQ terrace. Act quickly as this rejuvenated retreat will be popular!

* Photo identification will be required upon entering the property. Please contact our agent for your personal tour of this home today.

Outgoings:
Council Rates: $365.00 per quarter approx.
Water Rates: $170.00 per quarter approx.
Owners Corporation Fees: $1,734.00 per quarter approx.

Potential Rental Income: $720 per week approx.

Property History for 501/28 Bank St, South Melbourne, VIC 3205

A timeline of how this property has performed in the market
Last Sold
$712,000
21 Jun 2025
  • 21 Jun 2025
    Sold for $712,000
  • 13 Jun 2025
    Listed for Sale $712,000
  • 18 Oct 2023
    Transferred
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About South Melbourne 3205

The size of South Melbourne is approximately 2.2 square kilometres. There are 15 parks, covering nearly 3.3% of the total area. The population of South Melbourne in 2016 was 10920 people. By 2021 the population was 11548 showing a population growth of 5.8% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation.In 2021, 42.40% of the homes in South Melbourne were owner-occupied compared with 40.20% in 2016.

South Melbourne has 12,939 properties. Over the last 5 years, Houses in South Melbourne have seen a -4.88% decrease in median value, while Units have seen a -0.82% decrease. As at 31 July 2026:

  • The median value for Houses in South Melbourne is $1,699,133 while the median value for Units is $613,169.
  • Houses have a median rent of $850 while Units have a median rent of $675.
There are currently 28 properties listed for sale, and 53 properties listed for rent in South melbourne on OnTheHouse. According to Cotality's data, 480 properties were sold in the past 12 months in South melbourne.

Suburb Insights for South Melbourne 3205

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Cotality Copyright and Legal Disclaimers about Property Data
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.