OFF MARKET

321/118 Franklin Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: 1
Floor area: 43m2
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Last updated 16 Sep 2024
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Property Details for 321/118 Franklin St, Melbourne

321/118 Franklin St, Melbourne is a 2 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2001. The property has a floor size of 43m2. While the property is not currently for sale or for rent, it was last sold in February 2021.

Building Type
Unit
Year Built
2001
Floor Size
43m2
Local Government
Melbourne
Lot/Plan
321/PS425500

Last Listing description (April 2018)

This two bedroom north-facing apartment in the Nova Stargate complex is an amazing opportunity for investors with amazing returns! Just metres to the Queen Victoria Market, Melbourne University, Melbourne Central as well as the renowned RMIT University.
- Part of the Nova Stargate hotel, offering excellent rental returns of $21,757 per annum which translates to a 7.53% return.
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This building has some of the lowest outgoings out of any building in Melbourne
- Fully-serviced and enjoying bright living and meals out to a north-facing balcony.
- Kitchen features a breakfast bar and Blanco stainless steel appliances, tasteful bathroom enjoys a European laundry.
- Both bedroom comes with built-in robes including one bed which has a handy study nook.
- Reverse cycle heating and cooling, secure intercom entry, serviced reception, access to the building's gym and sauna.
- Near Flagstaff Gardens, QV Shopping, Flagstaff Station, and trams taking you all around the city.

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Property History for 321/118 Franklin St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$357,400
02 Feb 2021
  • 02 Feb 2021
    Sold for $357,400
  • 08 Aug 2016
    Listed for Sale $289,000
  • 29 May 2010
    Listed for Sale $270,000.00
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About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 61,329 properties. Over the last 5 years, Houses in Melbourne have seen a 33.57% increase in median value, while Units have seen a 2.46% increase. As at 31 August 2024:

  • The median value for Houses in Melbourne is $1,218,497 while the median value for Units is $465,019.
  • Houses have a median rent of $600 while Units have a median rent of $645.
There are currently 301 properties listed for sale, and 275 properties listed for rent in Melbourne on OnTheHouse. According to CoreLogic's data, 2039 properties were sold in the past 12 months in Melbourne.

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