1615/480-490 Collins StreetMelbourne VIC 3000
Property Details for 1615/480-490 Collins St, Melbourne
1615/480-490 Collins St, Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 1966. The property has a land size of 1400m2. While the property is not currently for sale or for rent, it was last sold in December 2024.
Last Listing description (April 2020)
Located along Melbourne's famous Golden Mile is the Oaks on Collins. This ideally situated building is a hub of activity right in the middle of the CBD. This fully refurbished building includes ample facilities including pool and gym, concierge, conference facilities and a five star restaurant.
This investment opportunity is ideally suited to smart investors looking for a high return over 6.7 %. With a long term lease in place until 2025 this is the perfect set and forget opportunity you have been waiting for. With a $20,179.63 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.
This apartment facing north is a rare opportunity as it includes a spacious balcony with views across the Melbourne Skyline. Inside the fully appointed and recently refurbished studio comes with stone benches, air-conditioning, robes, and fully equipped kitchen. This immaculate apartment is located towards the top of the building and has all the smart traveler could need. 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
Anyone inspecting the property must not be subject to 14 isolation period, be feeling unwell or have any reason they may have been exposed to COVID-19 virus
Property History for 1615/480-490 Collins St, Melbourne, VIC 3000
- 13 Dec 2024Sold for $288,000
- 08 Apr 2020Sold for $289,000
- 20 Mar 2020Listed for Sale $300,000
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 64,266 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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