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Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

602/589 Elizabeth Street
Melbourne, VIC 3000

$429,000

Apartment 2 beds 1 bath
Listed Date: 18th Jun 2026
Overview

Everything Melbourne, Right Outside Your Door

Some addresses put you close to the action. This one places you right in the middle of it.

Positioned within the popular E589 Apartments, this spacious two-bedroom residence offers the perfect blend of lifestyle, convenience and investment appeal. Whether you are searching for your first home, a city base or a smart addition to your portfolio, this location continues to perform strongly.

Step outside and you are moments from Queen Victoria Market, RMIT University, The University of Melbourne, major hospitals, public transport and some of Melbourne's best cafés, restaurants and retail precincts.

Inside, the well-designed floorplan offers excellent separation between the living and bedroom zones, creating a sense of space rarely found in inner-city apartments. The contemporary kitchen features stone benchtops, premium appliances and ample storage, while the light-filled living area flows seamlessly to a generous balcony with CBD views.

Both bedrooms feature built-in robes and, importantly, natural light through external windows - a sought-after feature often missing from many city apartments.

The apartment is currently leased until August, returning approximately $580 per week, making it an opportunity that appeals equally to owner-occupiers and investors looking to secure a quality asset in a blue-chip Melbourne location.

Property Highlights

  • Two bedrooms with built-in robes
  • Both bedrooms feature external windows
  • Spacious open-plan living and dining
  • Stone kitchen with premium appliances
  • Generous balcony with CBD views
  • West-facing orientation
  • Approximately 60sqm of internal living
  • Secure apartment living

Currently leased until August with a rental return of approximately $580 per week.

Outgoings (approximate)

  • Owners Corporation: $3,844 per annum
  • Council Rates: $1,020 per annum
  • Water Rates: $704 per annum

Whether investing in Melbourne's future or securing a home in the heart of the city, this property offers an opportunity defined by location, convenience and long-term appeal.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.

Location
602/589 Elizabeth Street
Melbourne VIC 3000
Measurements
Type Dimensions
Floor Area 60 m²
Market Insights for Melbourne VIC 3000
New Listings (last 30 days)
7
Average price
$439,286
Lowest price
$245,000
Highest price
$750,000
Other properties in this postcode

* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.