1317/480-490 Collins StreetMelbourne VIC 3000
Property Details for 1317/480-490 Collins St, Melbourne
1317/480-490 Collins St, Melbourne is a 2 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 30m2. While the property is not currently for sale or for rent, it was last sold in December 2004.
Last Listing description (December 2018)
This investment opportunity is ideally suited to smart investors looking for a high return of 7%. With a long term lease in place until 2025 this is the perfect set and forget opportunity you have been waiting for. With a $18,986.52 yearly return paid in 12 monthly payments this is perfect for SMSF or savvy investors looking for an investment property that provides 100% occupancy. Best of all you don't even need to pay owners corporation fees, council or water rates. All this together with 3% rental increases per year make this the investment opportunity of the year.
Don't pay owners corp fees
Don't pay council rates or water rates
Don't pay your managing agent 7%
Don't pay releasing fees when your tenant skips
Don't stress about the rental market going down
Don't worry about vacancy rates
This stable investment offers an alternative to traditional residential investment properties so you don't need to worry anymore.
You do not pay for any owners corporation admin fees
You do not pay for any council rates, water rates
You do not pay any usage charges for electricity or water
No late payments on rent - payed monthly on time
No GST on the purchase price
100% occupancy with a long term lease (2025)
You do not pay for any damage
Monthly and yearly statements sent directly to you
No need for a real estate agent or property manager
Stable returns with yearly 3% increases
This apartment has views across Collins St towards the Rialto building. Inside the fully appointed and recently refurbished studio includes stone benches, air-conditioning, robes, and a fully equipped kitchen. Take the opportunity to purchase into one of Australia's leading Hotel chains and capitalize on this sound investment. Take the time to inspect or ask for a copy of the contract. Call Nick on 0404 099 310
Property History for 1317/480-490 Collins St, Melbourne, VIC 3000
- 01 Nov 2018Listed for Sale 7% net return
- 29 Jul 2014Listed for Sale $225,000+
- 07 Feb 2013Listed for Sale $195,000 - $215,000
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About 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 64,227 properties. Over the last 5 years, Houses in Melbourne have seen a 5.76% increase in median value, while Units have seen a -4.47% decrease. As at 30 April 2026:
- The median value for Houses in Melbourne is $1,457,082 while the median value for Units is $442,735.
- Houses have a median rent of $700 while Units have a median rent of $675.
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