5807/500 Elizabeth Street, Melbourne VIC 3000

High-floor 2-bedder with parking | 61m² in core CBD | 8%+ yield signal from building comparables | Compact but well-finished This apartment is competitively positioned within Melbourne’s CBD high-rise stock. A 61m² two-bedroom, two-bathroom layout with a car space and a level 58 position is a rare combination in this precinct, where smaller floor plates and no parking are more common. The inclusion of Miele appliances and built-in robes lifts the finish above entry-level product. The high floor likely delivers stronger outlook and reduced street noise, which may appeal to owner-occupiers wanting a central base or investors targeting professional tenants and downsizers. The building’s 13-year age places it in the newer tier of CBD towers, offering modern compliance and lower maintenance expectations than older stock. The price context should be anchored to the property’s specific features rather than broad market sentiment. A comparable unit in the same building transacted at $480,000 in early 2026 and was then advertised at $750 per week, which implies a gross yield opportunity around 8% if that rent is achievable. This yield signal may attract yield-focused buyers, but actual rental outcomes depend on fit-out, floor level, and tenant demand at the time of lease. The 61m² floor area is compact for a two-bedder, which might limit appeal for families or those seeking more generous living space. The absence of disclosed building amenities means the buyer should verify what is included in the common property—pool, gym, or concierge—as these can materially affect ongoing costs and resale appeal.