508/471 Little Bourke StreetMelbourne VIC 3000
Property Details for 508/471 Little Bourke St, Melbourne
508/471 Little Bourke St, Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 1982. The property has a land size of 1171m2. While the property is not currently for sale or for rent, it was last sold in May 2023.
Last Listing description (May 2023)
ONE OF THE BEST MANTRA LEASES IN THE CBD.
72M2!!
Great rental income, low outgoing.
$28,077 Per annum rental income around 7% net
return on investment
Also perfect for those with self-managed super funds.
This apartment is in a secure long-term lease with the Mantra Group and is run as a 4-star rated serviced apartment hotel.
Initial rent at $ 28,077 per annum with a yearly CPI increase.
The owner has to pay the council rate, water rate, and owner's corporate levies currently at
Council rate of $1,137.81 per annum
Water rate Approx.
$959 per annum
Own corporation Maintenance Approx. $589
Total outgoing is around $2,600 a year.
Lease Commencement date - 1 April 2023 with 3 further option terms of 12 months, at the discretion of Accor, the owner is entitled to 3 nights accommodation per year.
.
Fully furnished and with brilliant space, this open and vibrant apartment features a generous living and meals zone with a mounted flat screen TV, deluxe kitchen with appliances including a microwave, spacious bedroom, bathroom with separate shower and bath plus a laundry with washer dryer, 24-hr concierge, ground floor restaurant and bar, and access to the top floor gym and sauna.
Generous rental returns of $28,077 per annum mean this gem is bound to be snapped up by purchasers in search of an easy-care investment
Situated in the heart of the city ensures a lifestyle location is at its best with easy access to Queen Victoria Market, Flagstaff Railway Station and Bourke Street tramline, the stunning Flagstaff Gardens, Emporium and Melbourne Central, Yarra River, and Crown Casino Precinct
Property History for 508/471 Little Bourke St, Melbourne, VIC 3000
- 05 May 2023Sold for $345,000
- 12 Apr 2023Listed for Sale under contract
- 08 Dec 2005Sold for $267,000
Recent sales nearby
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About 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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