438/58 Franklin Street, Melbourne VIC 3000

1-bedroom unit, 58 Franklin Street, Melbourne CBD | Bushfire, flood and heritage overlays | Non-residential land use classification | Price picture unresolved across sources. The property is a one-bedroom unit in central Melbourne with strong access to public transport, employment, universities and retail. The building coverage and land size suggest a larger complex, and the unit is zoned for Carlton Gardens Primary School and University High School. For a buyer seeking a compact city base with established infrastructure, the location is functional. However, the non-residential land use classification and multiple planning overlays mean its suitability as a standard home is not straightforward. The asking price reported by one source and the estimated value from another are dramatically different, so the price picture cannot be relied on from the visible evidence alone. The bushfire, flood and heritage overlays may affect renovation approvals and insurance considerations. Whether this is a full freehold interest, a share or a leasehold remains unresolved, and that needs to be established before any confidence can be formed about value or use.