1507/222 Russell StreetMelbourne VIC 3000
Property Details for 1507/222 Russell St, Melbourne
1507/222 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 62m2. While the property is not currently for sale or for rent, it was last transferred in January 2025.
Last Listing description (August 2025)
Located on the 15th floor, this spacious one-bedroom apartment boasts a serene Southerly view, encompassing 65 sqm of living space along with an 8 sqm balcony. The generously sized open-plan living/dining area seamlessly connects to a fully equipped kitchen, bathing the space in natural light. The king-sized bedroom features built-in robes and an en suite with a sparkling shower over a bath, complemented by a Euro laundry.
The building's impressive amenities include a pool , spa, sauna, and gym, all in a prime Melbourne location at the heart of China Town and the Theatre precincts. A quality restaurant and bar attached make this property an appealing investment or future home.
NB: THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.
Currently leased to Mantra at an impressive $690 per week until October 2025 an offering annual 3% increases until 2029, this high-quality investment property could be a valuable addition to your portfolio.
IMPORTANT INFORMATION:
Internal Size: 65 sqm Internal
8 sqm Balcony
Current Rental: $35,949pa ($690/week)
Future Rental: Nov 2025 - Oct 2026 $37,027 pa
Nov 2026 - Oct 2027 $38,138 pa
Nov 2027 - Oct 2028 $39,282 pa
Nov 2028 - Oct 2029 $40,460 pa
Lease: Until 31st October 2025.
Lease Options: 4 X 1 Year
Increases: Annual 3%
Return: 8,3% Gross
(7.4% Nett)
Outgoings:
Tenant (Mantra) Pays:
OC Admin Fee: $4,206
Owner Pays:
OC Maintenance: $1,245 pa
Council rates: $1,457 pa
Water rates: $1, 149 pa
Inspection is by private appointment.
For further details please contact:
Nick Walters of Kingsford Property - 0438 557 885
Nick@kingsfordproperty.com.au
Disclaimer: 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. This information has been provided by third parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. We urge all interested parties to conduct their own due diligence and seek independent professional legal advice to ensure this information is accurate.
Property History for 1507/222 Russell St, Melbourne, VIC 3000
- 03 Jul 2025Listed for Sale $435,000
- 17 Jan 2025Transferred
- 03 May 2002Sold for $274,500
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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 64,246 properties. Over the last 5 years, Houses in Melbourne have seen a 33.17% increase in median value, while Units have seen a -4.37% decrease. As at 28 February 2026:
- The median value for Houses in Melbourne is $1,808,781 while the median value for Units is $436,528.
- Houses have a median rent of $650 while Units have a median rent of $675.
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