1506/222 Russell StreetMelbourne VIC 3000
Property Details for 1506/222 Russell St, Melbourne
1506/222 Russell St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 3115m2 and floor size of 34m2.
Last Listing description (February 2021)
Situated on the 15th floor and with a Southerly aspect is this generous one bedroom apartment measuring some 65m2. The huge open plan living/dining area has an adjoining fully equipped kitchen plus excellent natural light. King sized bedroom with BIRs and sparkling en suite including shower over bath and euro laundry. There is also a 7 square meter balcony which is accessible from the lounge.
The building has an impressive pool and gym area, is in a prime Melbourne location in the heart of the China Town and theatre precincts of Melbourne, and also has a quality restaurant and bar attached - all making this a very attractive investment.
With Mantra offering an excellent rental of approximately $585 per week, and minimal annual outgoings, this blue chip investment property would be a welcome addition to your investment portfolio.
N.B THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION
RENT: $30,455 pa
(Effective November 2018)
INCREASE: With 3% annual increases between market reviews
RETURN: 6.5% (Gross)
LEASE: Until November 2021
OPTIONS: 3 x 5 year options
TENANT (MANTRA) PAYS:
- All Owners Corporation fees
- Refurbishment
- Insurance
- General maintenance
- Water usage
OWNER PAYS:
- Council Rates & Water Rates of $2,000 pa (Approx)
For further enquires please call:
Nick Walters of Kingsford Property - the Serviced Apartment Specialists
(03) 9682 6222 or 0438 557 885
nick@kingsfordproperty.com.au
Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent.
Property History for 1506/222 Russell St, Melbourne, VIC 3000
- 01 Feb 2021Listed for Sale $468,000
- 15 Oct 2018Listed for Sale $468,000
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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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