Looking for a home on a budget? Here are 10 Melbourne apartments under $385,000

For property buyers on a strict budget, considering purchasing a home in central Melbourne doesn't have to be off the cards – you may be interested to discover 10 listings under $385,000 including properties in the CBD and city fringe suburbs.

Here are the 10 Urban listings in Melbourne with the lowest starting price across the market.

RIVEREDGE, WERRIBEE $331,250

Developer: Burbank Urban

Architect: Rothelowman

As one of the most affordable properties on the market currently, RiverEdge is likely to be a popular choice among first home buyers, downsizers and investors. The development consists of one, two and three-bedroom configurations, with a rooftop garden to be enjoyed by residents. RiverEdge also contains underground car and bicycle parking and storage units, while the apartment interiors boast luxury appliances, floor-to-ceiling joinery, and a natural interior material palette. The complex is located within walking distance to great schools and public transport options – and just an hour's drive from Melbourne CBD. 

FAME APARTMENTS, PASCOE VALE $348,500

Developer: Projex Properties

Architect: DesignWorxArchitects

Fame Apartments in Pascoe Vale are comprised of 27 one and two-bedroom configurations with flexible floorplans, giving buyers the ability to create the home that best suits their requirements and lifestyle. With design led by DesignWorxArchitects, each apartment is contemporary and natural, creating a timeless canvas for residents to add their own personal touches. The apartments are located just a stone’s throw from a vibrant retail and dining district, with nearby onramp access for a direct route to Tullamarine Airport or Melbourne CBD.

MARCO, SOUTHBANK $350,000

Developer: Golden Sunrise Developments

Architect: Buchan

Builder: Crema Constructions

Conveniently located in the heart of Southbank, Marco apartments span across two buildings which stand 36 and 40 levels tall, giving residents unobstructed views of the city and beyond. The Buchan Architects-designed apartments feature stylish fixtures and finishes throughout including SMEG and Miele appliances and floor-to-ceiling windows. Marco also contains 5-star hotel facilities including a swimming pool, on-site cinema, gym and residents lounge. With an abundance of public transport options nearby, as well as the NGV and Arts Precinct within walking distance, Marco apartments are some of the most affordable CBD properties on the market right now.

LIVE CITY, FOOTSCRAY $357,000

Developer: R&F Property Australia

Architect: Lovell Chen Architects & Heritage Consultants

Builder: L. U. Simon Builders

The Lovell Chen Architects-designed mixed-use precinct Live City is currently under construction, with the first residential building topping out just last week at 15-storeys. That apartment building contains 208 residences comprising of one, two and three-bedroom configurations, featuring flexible, open-plan floorplans. The building’s rippled façade with glimmering glazing brings a sense of grandeur to the Footscray landscape, while the base maintains a connection to the site’s historical industrial heritage with its original red brick structure and steel girders. Each apartment boasts luxurious kitchens with reconstituted stone benchtops, concealed storage, and premium appliances.

HALL STREET, MOONEE PONDS 362,000

Developer: Caydon Property

Architect: Fender Katsalidis Architects

Builder: LU Simon

Hall Street apartments are one of three Fender Katsalidis-designed apartment buildings within the new precinct Mason Sq. Each apartment building is situated around a central half-acre garden, which features lush lawns, sports courts, and vegetable gardens. Split across two elegant towers, the apartments have been meticulously designed to reflect a traditional house with generously sized kitchens, complete with breakfast bars, as well as oversized showers and a built-in study. Additional apartment amenities include A/C, a video intercom, tools shed, an on-site manager and an outdoor theatre.

MARGARET STREET, MOONEE PONDS 378,000

Developer: Caydon Property

Architect: Fender Katsalidis Architects

Builder: LU Simon

Situated within the brand new Fender Katsalidis-designed precinct Mason Sq, Margaret Street apartments offer affordable one and two-bedroom architecturally designed homes just 6km from Melbourne CBD. The apartments contain full-sized modern kitchens with state-of-the-art appliances and timber flooring. Each room receives ample natural light throughout the day, and a generous selection of outdoor spaces will ensure residents can find their own space to relax and unwind in peace. On-site amenities include a spa, pool, barbeque, yoga room, and a quarter-acre community garden.

M-CITY, CLAYTON $380,300

Developer: Saraceno Group

Architect: Buchan

Builder: Multiplex

M-City precinct designed by Buchan is a sophisticated ‘mini-city’ in Clayton. M-City is home to 460 residences, and within walking distance to grocery stores, restaurants, bars and more. Each apartment contains floor-to-ceiling glazing providing an abundance of natural light – as well as spacious, private balconies. M-City also boasts luxury resort-style facilities including landscaped gardens, barbeque zones, and a heated pool.

RISE, MOONEE PONDS $384,000

Developer: Caydon Property

Architect: Fender Katsalidis Architects

At a towering height of 29-storeys, Rise apartment’s striking curved façade means unparalleled panoramic views from every room. As part of the Mason Sq development, Rise also shares a long list of luxury amenity offerings alike it’s neighbouring developments, including a heated pool, well-equipped gym, yoga studio, as well as home automation systems and access to a resident-only sky bar. Rise contains one, two and three-bedroom apartment configurations, and features natural timber flooring, earthy tones, floor-to-ceiling windows, and grand, sweeping balconies.

SUMMUS, MARIBYRNONG $384,000

Developer: Orion International Group

Architect: Doig Architecture

Builder: Brady Constructions

Summus is a collection of three towers set within the heart of Maribyrnong. As one of Maribyrnong’s tallest towers at a staggering 15 levels, Summus offers some of the best city views in the western suburbs. The Doig Architecture-designed building is home to 183 apartments, with a selection of one, two and three-bedroom configurations as well as townhouses and penthouses. Summus also features an open garden court for relaxing amongst nature, as well as a private lounge and dining room which is perfect for entertaining.

VOLAIRE, WEST MELBOURNE $385,000

Developer: Cbus Property

Architect: Hayball

Builder: Built.

Hayball-designed Volaire is comprised of ten residential levels, with a selection of one and two-bedroom configurations. Each apartment has been designed with a neutral colour palette to allow buyers to make their home their own. A highlight is the entertainer’s kitchens, featuring Caesarstone benchtops, mirrored glass splashbacks, and bespoke cabinetry. On Level 6, residents can enjoy access to a sky podium which contains an alfresco barbeque and dining space, with panoramic views extending out across the city.

Ready to buy?

Take a look at our First Home Buyer Guide if you'd like to find out more information about the buying process. When you're ready to begin your property search, you'll want to keep an eye out for these important things and find out which First Home Buyer Grants you qualify for.