406/591-593 Elizabeth Street, Melbourne, Vic 3000

For Sale

406/591-593 Elizabeth Street, Melbourne, Vic 3000-Image

406/591-593 Elizabeth Street, Melbourne, Vic 3000

$145K - $155K

Unit

Type

Bedrooms

Bathrooms

Published on Tuesday, July 21, 2026 ( See property details for 406/591-593 Elizabeth Street, Melbourne, Vic 3000)

$145K - $155K

View the agent price guide.

Rosa Chik

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AI Property Insight

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

A modern, fully furnished student accommodation apartment in Melbourne's CBD offering excellent rental returns and prime location proximity to top universities.

🏡 Property Highlights

Fully furnished student accommodation with immediate rental income
Prime CBD location within walking distance to major universities
Secure building with intercom access for added safety
Modern design with separate bedroom and dedicated study space
High rental yield of $385 per week in Melbourne's thriving student market
Low-maintenance investment ideal for portfolio diversification

✨ Key Features

Built-in study desk and shelving
Kitchenette with electric cooktop and bar fridge space
Split system heating and cooling
Secure building with intercom access
Fully furnished
Separate bedroom area with sliding door
Modern bathroom
Low-maintenance yard
Open-Plan Living
Waterfront / Views

Suburb and Property Insights of Melbourne, VIC 3000

Melbourne's CBD offers an unbeatable lifestyle with its vibrant mix of educational institutions, shopping precincts, and public transport options. The area is renowned for its diverse cafes, restaurants, and cultural attractions, making it highly desirable for students and investors alike. Its central location ensures easy access to Melbourne's major amenities, providing a dynamic and convenient urban living experience.

Frequently Asked Questions

Is this property suitable for long-term investment in student accommodation?

Yes, the property offers a strong rental return and is located in a highly sought-after student precinct, making it an excellent long-term investment.

What are the occupancy requirements for this student accommodation?

The property is purpose-built student accommodation and must be occupied in accordance with the building's occupancy requirements, typically by students enrolled at nearby universities.

Are there any restrictions on leasing or subletting the apartment?

Leasing is subject to the building's policies and student accommodation regulations, which generally restrict occupancy to eligible students and may limit subletting options.

What are the ongoing costs associated with owning this property?

Ongoing costs may include strata fees, council rates, insurance, and maintenance. Specific details can be obtained from the property manager or strata corporation.

Is the property compliant with safety and building standards?

Yes, the apartment is part of a secure building with intercom access and modern amenities, complying with relevant safety standards.

What to ask about this property to agent?

Are there any upcoming strata or building maintenance works scheduled that could affect the property? What are the total strata fees and are there any special levies planned? Is there any history of flooding, bushfire risk, or other environmental hazards in the area? Are there any restrictions or covenants that could impact future renovations or modifications? What is the current occupancy rate and potential for rental increase? Are there any planned developments or zoning changes in the vicinity that could affect the property’s value? Has the property been inspected for structural issues or defects? Are there any ongoing disputes within the building or with neighbours? What are the terms of the lease currently in place, and when does it expire? Are there any additional costs or fees associated with the building’s security or amenities?

406/591-593 Elizabeth Street, Melbourne, Vic 3000 - More Details

$145K - $155K

An exceptional opportunity to secure a hassle-free investment in one of Melbourne's most sought-after student accommodation precincts. Ideally positioned at 406/591-593 Elizabeth Street, this fully furnished student accommodation apartment is currently leased at $385 per week ($1,673 per month), providing immediate rental income.

Located in the heart of Melbourne's education hub, the property is within walking distance of RMIT University, The University of Melbourne, Melbourne Central, Queen Victoria Market and an array of public transport options, making it highly desirable for both domestic and international students.

Thoughtfully designed to maximise space and functionality, the apartment offers a separate sleeping area with sliding doors, a dedicated study space and a practical kitchenette, creating the ideal environment for student living.

Property Features:

Currently leased at $385 per week ($1,673 per month)
Fully furnished student accommodation apartment
Separate bedroom area with sliding door for added privacy
Built-in study desk and shelving
Kitchenette with electric cooktop, bar fridge space and ample storage
Modern bathroom
Split system heating and cooling
Secure building with intercom access
Low-maintenance investment opportunity

Location Highlights:

Walking distance to The University of Melbourne and RMIT University
Moments from Melbourne Central Shopping Centre and train station
Opposite Queen Victoria Market
Excellent tram and public transport access
Surrounded by cafes, restaurants and everyday conveniences

This property is purpose-built student accommodation and is an ideal addition to any investment portfolio. With a strong rental return and an unbeatable CBD location, it offers investors a secure and low-maintenance asset in Melbourne's thriving student accommodation market.

Contact us today for further information or to arrange an inspection.

Please note: This property is student accommodation and may only be occupied in accordance with the building's occupancy requirements. Images have been virtually staged for illustrative purposes.

Type: Unit
Bedrooms: 1
Bathrooms: 1
Study: 1

Price guide

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