506/408 Spencer Street, West Melbourne, VIC 3003 | Property Value & History | OnTheHouse
OFF MARKET

506/408 Spencer Street
West Melbourne VIC 3003

Bedrooms: 2
Bathrooms: 2
Car spaces: -
Floor area: 68m2
Land area: 981m2
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Last updated 13 Apr 2026
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Property Details for 506/408 Spencer St, West Melbourne

506/408 Spencer St, West Melbourne is a 2 bedroom, 2 bathroom Unit and was built in 2023. The property has a land size of 981m2 and floor size of 68m2. While the property is not currently for sale or for rent, it was last sold in June 2023.

Building Type
Unit
Year Built
2023
Floor Size
68m2
Land Size
981m2
Local Government
Melbourne
Lot/Plan
506/PS825474

Last Listing description (April 2026)

Expression of Interest (unless sold prior) due 9th April 2026 at 5:30pmA stunning showpiece of Parkhill prestige, this designer 2 bedroom, 2 bathroom apartment is inspired, inviting and irresistible all at once. Set to impress on the very edge of the city, take a short stroll to Flagstaff Gardens greenery, Queen Victoria Market, Errol Street cafes, Aldi shopping, universities, zoned University High School, Marvel Stadium, transport choice, and both the CBD and Docklands precinct. This inner-city haven will make an instant connection with professionals, first home owners, and investors.Spreading out on the 5th floor, far-reaching open-plan living and dining is filled with natural light courtesy of floor-to-ceiling glass lining the perimeter. A stone-finished kitchen showcases soft-closing cabinetry, a Fisher and Paykel dish-drawer, and top-of-the-range Miele appliances including a microwave and a 4-burner gas cooktop. Always free-flowing, step outside and entertain alfresco on an oversized balcony under shelter and shade highlighted by open views of the surrounding skyline. The naturally lit bedrooms are generous in size, serviced by mirrored built-in robes and a perfect pair of sleek bathrooms boasting fully tiled shower areas, mirrored cabinetry and concealed cisterns.Comprehensive features include a Euro-style laundry with a washing machine and dryer, ducted heating and cooling, double glazing, recessed LED down-lighting, and motorised blinds with doubles in the bedrooms. Take advantage of prestigious Parkhill facilities including intercom security, a welcoming concierge, and resort-grade use of a rooftop gym and BBQ terrace with breathtaking city views. Inspect today!Outgoings: Council Rates: $393.00 per quarter approx.Water Rates: $184.25 per quarter approx.Owners Corporation Fees: $1,418.91 per quarter approx.* Photo identification will be required upon entering the property. Please contact our agent for your personal tour of this home today.

Property History for 506/408 Spencer St, West Melbourne, VIC 3003

A timeline of how this property has performed in the market
Last Sold
$680,000
29 Jun 2023
  • 27 Jan 2026
    Listed for Sale EOI (unless sold prior) $530,000 - $570,000
  • 29 Jun 2023
    Sold for $680,000
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About West Melbourne 3003

The size of West Melbourne is approximately 6.7 square kilometres. It has 14 parks covering nearly 2.4% of total area. The population of West Melbourne in 2016 was 5515 people. By 2021 the population was 8025 showing a population growth of 45.5% in the area during that time. The predominant age group in West Melbourne is 20-29 years. Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation.In 2021, 32.40% of the homes in West Melbourne were owner-occupied compared with 34.50% in 2016.

West Melbourne has 8,466 properties. Over the last 5 years, Houses in West Melbourne have seen a -12.75% decrease in median value, while Units have seen a -3.57% decrease. As at 31 March 2026:

  • The median value for Houses in West Melbourne is $1,253,332 while the median value for Units is $518,305.
  • Houses have a median rent of $755 while Units have a median rent of $620.
There are currently 38 properties listed for sale, and 12 properties listed for rent in West melbourne on OnTheHouse. According to Cotality's data, 400 properties were sold in the past 12 months in West melbourne.

Suburb Insights for West Melbourne 3003

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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.