504/60 Market StreetMelbourne VIC 3000
Property Details for 504/60 Market St, Melbourne
504/60 Market St, Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 2000. The property has a land size of 1074m2. While the property is not currently for sale or for rent, it was last sold in September 2018.
Last Listing description (October 2018)
This set and forget investment property within the 4.5 Star Oaks on Market Street, has an incredibly secure lease lasting until 2036 and a fabulous current rental return of approximately $17,084 per annum. This investment opportunity is optimized by a very high occupancy rate so there is no late rent, no Owners Corporation fees, no Rates and the hotel is responsible for any damages and no agent fee. Flinders and Southern Cross Stations are around the corner and the Melbourne CBD a short distance away.
Basically, this is an attractive investment property with a guaranteed income stream for years to come.
Disclaimer:
Property History for 504/60 Market St, Melbourne, VIC 3000
- 12 Sep 2018Sold for $246,000
- 03 Sep 2018Listed for Sale $249,800
- 04 Jul 2002Sold for $223,100
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About Melbourne 3000
The size of Melbourne is approximately 2.7 square kilometres. There are 9 parks, covering nearly 2.5% of the 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 64,454 properties. Over the last 5 years, Houses in Melbourne have seen a -13.97% decrease in median value, while Units have seen a -2.46% decrease. As at 30 June 2026:
- The median value for Houses in Melbourne is $1,470,997 while the median value for Units is $440,978.
- Houses have a median rent of $710 while Units have a median rent of $680.
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