713/222 Russell StreetMelbourne VIC 3000
Property Details for 713/222 Russell St, Melbourne
713/222 Russell St, Melbourne is a 1 bedroom, 1 bathroom Unit with 4 parking spaces and was built in 2000. The property has a land size of 3115m2 and floor size of 60m2. While the property is not currently for sale or for rent, it was last sold in November 2001.
Last Listing description (February 2014)
$199,500 - TOP SHELF ENTRY LEVEL INVESTMENT APARTMENT
Apartment 716
222 Russell Street,
$199,500 (Private Sale)
NB: THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION
This is an outstanding North facing studio apartment of 34 square meters offering the astute investor $271 per week from the Mantra Group. Located at the top end of Melbourne, this brilliant serviced apartment is of the highest quality and offers individuals the opportunity to secure a rewarding and trouble free investment. The apartment is currently leased until November 2016 with further options thereafter.
The new owner will have no vacancies, no leasing or rent collection fees, no owners corporate fees, insurance, general maintenance or refurbishment costs.
The Mantra on Russell is an outstanding property investment opportunity.
Current rent: $14,099 pa
(With annual 3% increases between Market Reviews)
Return: 7%
Options: 4 x 5 year options
Outgoings:
Owner: Council and Water Rates $1,600 per annum (approx)
Tenant: Owners Corporation Fees, Insurance, General Maintenance Refurbishment and Water Usage
For further enquires, please callthe agent.
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 713/222 Russell St, Melbourne, VIC 3000
- 21 Nov 2013Listed for Sale 199500
- 26 Nov 2001Sold for $260,000
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 64,324 properties. Over the last 5 years, Houses in Melbourne have seen a 5.76% increase in median value, while Units have seen a -4.47% decrease. As at 30 April 2026:
- The median value for Houses in Melbourne is $1,457,082 while the median value for Units is $442,735.
- Houses have a median rent of $700 while Units have a median rent of $675.
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