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401/591-593 Elizabeth Street, Melbourne, Vic 3000 Sold
401/591-593 Elizabeth Street, Melbourne, Vic 3000 401/591-593 Elizabeth Street, Melbourne, Vic 3000-Image 401/591-593 Elizabeth Street, Melbourne, Vic 3000-Image 401/591-593 Elizabeth Street, Melbourne, Vic 3000-Image 401/591-593 Elizabeth Street, Melbourne, Vic 3000-Image 401/591-593 Elizabeth Street, Melbourne, Vic 3000-Floorplan

401/591-593 Elizabeth Street, Melbourne, Vic 3000

$145K-$155K

Apartment
Type
1
Bedrooms
1
Bathrooms

Last updated on Wednesday, August 26, 2026 ( See property details for 401/591-593 Elizabeth Street, Melbourne, Vic 3000)

$145K-$155K

  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A well-presented, low-maintenance studio apartment in Melbourne’s CBD, offering strong rental returns and long-term tenant security within a vibrant university precinct.

🏡 Property Highlights

  • Secure student accommodation investment with fixed tenancy until 2027
  • Prime CBD location within walking distance to Melbourne University and RMIT
  • Currently leased at $390 per week, ensuring immediate rental income
  • Private balcony with urban outlook providing outdoor space
  • Functional open-plan studio layout with built-in study area
  • Low-maintenance property ideal for investors seeking hassle-free management

✨ Key Features

  • Built-in Robes
  • Open-Plan Living
  • Outdoor Area / Balcony
  • Internal Laundry
  • Security Screens / Gates
  • Fly Screens
  • NBN / High-Speed Ready
  • Waterfront / Views
  • Garage / Secure Parking
  • Home Office / Study Nook

Located in Melbourne’s vibrant CBD, this apartment offers unparalleled access to top universities, public transport, and popular attractions. The area boasts a lively café and restaurant scene, excellent walkability, and a strong demand for student accommodation. Its central position ensures high rental yields and long-term tenant appeal, making it an ideal investment hub. The neighbourhood combines urban convenience with a dynamic lifestyle, perfect for students and investors alike.

What are the current rental terms and conditions?
The property is currently leased at $390 per week, with a fixed tenancy agreement until 22 January 2027, providing reliable income for the investor.
What amenities are included in the apartment?
The apartment features a private bathroom, kitchenette, built-in study desk, and a private balcony with urban outlook, all within a secure complex.
Is the property suitable for long-term investment?
Yes, the property offers a stable rental income, a prime CBD location, and long-term tenant security, making it an excellent long-term investment.
What is the condition of the apartment?
The apartment is well-presented with a functional open-plan layout, natural light, and modern fixtures, ideal for tenants and investors.
Are there any additional costs or fees associated with the property?
Potential buyers should inquire about strata fees, council rates, and any other ongoing costs with the selling agent for comprehensive understanding.
Are there any upcoming planned renovations or building works in the complex that could affect living conditions or costs? What are the strata or body corporate fees, and what do they cover? Are there any restrictions or easements affecting the property? Has the property been inspected for structural issues or defects? Is the property located in a flood or bushfire-prone area? Are there any planned developments or zoning changes in the vicinity that could impact the property’s value? What are the long-term vacancy rates in this complex or area? Are there any additional costs for maintenance or repairs not covered by the current lease? Is the property compliant with all relevant building and safety regulations? Are there any noise or disturbance issues from nearby construction or traffic?

401/591-593 Elizabeth Street, Melbourne, Vic 3000 - More Details

$145K-$155K

Positioned in the heart of Melbourne’s vibrant university precinct, this well-presented student accommodation apartment offers an affordable entry into the Melbourne property market with immediate rental returns and long-term tenant security.

Located within the popular student accommodation complex at 593 Elizabeth Street, this functional studio-style apartment is ideal for investors seeking a low-maintenance property in a prime CBD location. Currently leased at $390 per week ($1,695 per calendar month) until 22 January 2027, the property provides strong and consistent income from day one.

The apartment features a practical open-plan layout with built-in study desk, private bathroom, kitchenette facilities, and excellent natural light. A private balcony adds valuable outdoor space, while the building’s central location places residents within walking distance to Melbourne University, RMIT, Queen Victoria Market, Melbourne Central, public transport, cafes and restaurants.

Property Features:

Secure student accommodation investment
Currently leased at $390 per week / $1,695 pcm
Fixed tenancy until 22/01/2027
Functional open-plan studio layout
Private bathroom and kitchenette
Built-in study area and storage
Private balcony with urban outlook
Excellent CBD location close to universities and transport
Low-maintenance investment opportunity

An ideal addition to any investment portfolio with reliable rental income in one of Melbourne’s most consistently demanded student accommodation locations.
Type
Apartment
Bedrooms
1
Bathrooms
1

Price guide

View Statement Of Information

in compliance with Estate Agents Act 1980

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