706/591-593 Elizabeth Street, Melbourne, Vic 3000

For Sale

706/591-593 Elizabeth Street, Melbourne, Vic 3000-Image

706/591-593 Elizabeth Street, Melbourne, Vic 3000

$145K - $155K

Unit

Type

Bedrooms

Bathrooms

Published on Wednesday, August 12, 2026 ( See property details for 706/591-593 Elizabeth Street, Melbourne, Vic 3000)

$145K - $155K

View the agent price guide.

Rosa Chik

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AI Property Insight

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A modern, low-maintenance student accommodation apartment in Melbourne's prime CBD fringe, offering strong rental income and excellent amenities.

🏡 Property Highlights

Modern purpose-built student accommodation in Melbourne's CBD fringe
Currently leased at $385 per week with a lease until 12 Jan 2027
Well-designed layout with quality finishes and private ensuite
Prime location within walking distance to universities, markets, and shopping
Secure building with lift access and low-maintenance appeal
Strong rental demand from both local and international students

✨ Key Features

Built-in Robes
Ensuite
Open-Plan Living
Security Screens / Gates
Reverse-cycle Heating and Cooling
Lift Access
Low-Maintenance Yard
NBN / High-Speed Ready
Secure Parking
Pet-Friendly

Suburb and Property Insights of Melbourne, VIC 3000

Melbourne's CBD fringe offers a vibrant lifestyle with easy access to world-class universities, bustling markets, diverse dining options, and excellent public transport. The area is highly sought after by students and professionals alike, providing strong rental demand and capital growth potential. Its proximity to iconic attractions and amenities makes it an ideal location for both living and investment. The neighbourhood boasts a lively atmosphere with cultural events, parks, and shopping precincts, ensuring a dynamic urban experience.

Frequently Asked Questions

What is the current rental income and lease term for this property?

The property is currently leased at $385 per week, with a lease until 12 January 2027, providing a reliable income stream.

Is this apartment suitable for international students?

Yes, the apartment is purpose-built for student accommodation, making it highly attractive to both local and international students.

What amenities are included in the apartment?

The apartment features a modern kitchenette with electric cooktop and bar fridge, private ensuite, built-in robes, dedicated study desk, and reverse-cycle heating and cooling.

What are the benefits of investing in this property?

This property offers strong rental returns, a prime CBD fringe location, low maintenance, and a high demand from students, making it an excellent investment opportunity.

What security features does the building have?

The building is secure with lift access and security gates, ensuring safety and peace of mind for residents.

What to ask about this property to agent?

Are there any additional management or strata fees associated with this purpose-built student accommodation? Are there any restrictions or rules imposed by the building management that could affect occupancy or usage? Has the property been recently renovated or inspected for defects? Are there any upcoming developments or planning activities in the vicinity that could impact the property? What are the long-term vacancy rates and rental market trends in this area? Is the property compliant with all local building codes and regulations for student accommodation? Are there any easements, zoning restrictions, or covenants affecting the property? What are the potential costs for ongoing maintenance or repairs? Is there any history of flooding, bushfire risk, or other environmental hazards in the area? Are there any planned upgrades or changes to public transport or local infrastructure that could influence the property's value?

706/591-593 Elizabeth Street, Melbourne, Vic 3000 - More Details

$145K - $155K

Secure an exceptional investment opportunity with this modern, purpose-built student accommodation apartment, ideally positioned in the heart of Melbourne. Currently leased at $385 per week ($1,673 per month), this low-maintenance property delivers immediate rental income in one of the city's most sought-after student locations.

Thoughtfully designed to maximise comfort and functionality, the apartment offers a well-planned layout with quality finishes, making it highly attractive to both local and international students.

Property Features

* Currently leased at $385 per week ($1,673 per month) until 12 Jan 2027
* Purpose-built student accommodation
* Separate bedroom with built-in robe
* Private ensuite bathroom
* Modern kitchenette with electric cooktop, bar fridge and ample storage
* Dedicated study desk with shelving and storage
* Reverse-cycle heating and cooling
* Secure building with lift access
* Low-maintenance investment with strong rental appeal

Outstanding CBD Fringe Location. Perfectly positioned within walking distance to:

* The University of Melbourne
* RMIT University
* Queen Victoria Market
* Melbourne Central Shopping Centre
* Flagstaff Gardens
* Carlton's renowned café and dining precinct
* Free tram zone and excellent public transport connections

With Melbourne continuing to attract thousands of domestic and international students each year, this apartment presents an outstanding opportunity to secure a reliable investment in a consistently high-demand location.

Whether you're looking to expand your investment portfolio or secure a hassle-free property with strong rental returns, this is an opportunity not to be missed.

*Please note: This apartment is located within a purpose-built student accommodation building. Occupancy is subject to the building's management rules and requirements.*

Type: Unit
Bedrooms: 1
Bathrooms: 1

Price guide

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