1701/222 Russell StreetMelbourne VIC 3000
Property Details for 1701/222 Russell St, Melbourne
1701/222 Russell St, Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 2000. The property has a land size of 3115m2 and floor size of 65m2. While the property is not currently for sale or for rent, it was last sold in September 2018.
Last Listing description (June 2021)
Another serviced apartment sold by NICK WALTERS of KINGSFORD PROPERTY - Melbourne's serviced apartment specialists...Call me on 0438 557 885
Pay no Owners Corporation or refurbishment costs and enjoy the benefits of a long term, secure lease with this prime studio serviced apartment measuring approximately 34 sqm. Situated on Level Seventeen and with a preferred Easterly aspect, the apartment features a separate bathroom, open plan kitchenette, living and bedroom area leading to a 7 square meter balcony offering city scape views.
The property offers good security, a heated pool, spa, sauna, gym and sun deck, plus a quality restaurant and bar on Level One. The building is in a prime Melbourne location in the heart of the Chinatown and theatre precincts all making this a very desirable investment choice.
NB: THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.
IMPORTANT INFORMATION:
RENT: $23,411pa
($450 per week approx.)
INCREASE: Annual 3% increases
(Between Market Reviews)
RETURN: 7% (Gross)
LEASE: Until Nov 2021
OPTIONS: 3 x 5 years
TENANT (Mantra) PAYS:
Owners Corporation fees
Refurbishment
Insurance
General Maintenance
OWNER PAYS:
Council rates: $694 pa (Approx)
Water rates: $928 pa (Approx)
Inspection by private appointment only.
For further details please contact Nick Walters of Kingsford Property - Melbourne's Serviced Apartment Specialists.
M: 0438 557 885
E: 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 1701/222 Russell St, Melbourne, VIC 3000
- 24 Feb 2021Listed for Sale Contact Agent
- 08 Sep 2018Sold for $477,000
- 23 Aug 2018Listed for Sale $498,000
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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 64,266 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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