1105/480-490 Collins StreetMelbourne VIC 3000
Property Details for 1105/480-490 Collins St, Melbourne
1105/480-490 Collins St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1966. The property has a land size of 1400m2 and floor size of 28m2. While the property is not currently for sale or for rent, it was last sold in July 2017.
Last Listing description (August 2017)
Set amongst the hustle and bustle of Melbourne and situated along the coveted golden mile is the Oaks on Collins Hotel. The 4.5 star Hotel complex is a long standing building and has been occupied by the Hotel since 2004. With a long term lease until 2025 and a stable return this is the perfect investment opportunity for smart investors looking for a high rate of return.
This set and forget style investment offers a stable and sought after $18,144 per year, combine this with yearly 3% increases the next due on October which will bring the return to $18,688 and a 7.05% return. Best of all you do not pay the council rates, water rates or owners corporation fee. As this property has a long term lease (2020 with one further 5 year option) you don t even need a property manger. This investment opportunity is perfect for SMSF buyers as it offers a high yield and low hassles.
All you do is purchase and the return is yours!
Please make a time to inspect or call Nick Richards on 0404 099 310.
Property History for 1105/480-490 Collins St, Melbourne, VIC 3000
- 18 Jul 2017Listed for Sale $265,000
- 13 Jul 2017Sold for $260,000
Recent sales nearby
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0About Melbourne 3000
The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2016 was 47285 people. By 2021 the population was 54941 showing a population growth of 16.2% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation.In 2021, 25.80% of the homes in Melbourne were owner-occupied compared with 29.00% in 2016.
Melbourne has 64,265 properties. Over the last 5 years, Houses in Melbourne have seen a -6.38% decrease in median value, while Units have seen a -4.97% decrease. As at 31 March 2026:
- The median value for Houses in Melbourne is $1,346,319 while the median value for Units is $439,159.
- Houses have a median rent of $700 while Units have a median rent of $672.
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