Is a new 1 Bedroom Apartment in Hawthorn a good investment?

I'm not a financial planner nor property expert so with that out of the way as a disclaimer, answer is... it depends. You have to select carefully. There is a lot of student accomodation near Swinburne Uni so doubt it will have great capital appreciation but will be rented to students (most from Asia). Then you have apartments that wouldn't attract students that are probably more expensive, in which case capital appreciate is probably more likely but with the close vicinity to CBD and good transport, ideal for renters. Best to do your homework with real estate agents, The Age data etc to figure out what's really going on.
Knowing that there are two very different kinds available, pick carefully depending on what you are after. Good luck