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Location

Market Insights for Melbourne VIC 3000

New Listings (last 30 days)

Average price

$738,210

Lowest price

$185,000

Highest price

$8,000,000

604/11-17 Cohen Place, Melbourne VIC 3000

$170,000 - $187,000

Search Band

$170k - $179k Transparent Based on an openly advertised listing price.

Apartment 1 bed 1 bath 850 m²

Listed: 18 hours ago

Overview

This well-maintained apartment offers a compelling investment opportunity in Melbourne's vibrant central business district. Located in the Paris-End of the CBD, near the Chinatown Tourist Precinct and Theatre District, it provides unrivalled access to world-class dining, shopping, and cultural attractions, ideal for investors seeking a secure, high-yield asset.

Currently leased securely to Punthill Hotels under a structured five-year lease with multiple renewal options and annual rental increases, the property produces a strong rental income with over 10% yield, projecting increasing returns over the years. This contract stability adds to its appeal as a reliable income stream within a sought-after location.

Spacious open plan living enhances the apartment’s functionality and comfort.
Quality fixtures and fittings complement the modern bathroom and tasteful balcony, encouraging indoor-outdoor living.
Heating and cooling systems ensure year-round comfort.
Being inside the Free Tram Zone and close to various transport options, mobility is effortless for occupants and visitors alike.

Overall, this apartment is suitable for investors looking for consistent returns in a prime, well-connected CBD location with long-term lease security and capital growth potential.

Local Market Insights

In Melbourne, Quiet Listings observed 88 new apartments entering the market over the last 30 days, up from 70 during the previous 30-day period, with an average advertised asking price of $738,210. The property type mix of listed properties is predominantly Apartments at 83%, followed by commercial properties (14%), and units (3%). The most active agency for apartments in the Melbourne area is currently Dingle Partners, representing 15% of new listings, followed by Melbournian Property Group with 13%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

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.