714/480-490 Collins StreetMelbourne VIC 3000
Property Details for 714/480-490 Collins St, Melbourne
714/480-490 Collins St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1966. The property has a land size of 1400m2 and floor size of 55m2. While the property is not currently for sale or for rent, it was last sold in November 2017.
Last Listing description (December 2017)
Are you looking for a set and forget style investment that offers a great return
Located in a prime location inside the bustling Oaks on Collins Hotel this apartment has a great aspect overlooking the beautiful Rialto Building along Collins St. This well equipped studio apartment is the largest type in the building with light filled surrounds, neutral tones and huge windows looking out to your private balcony.
The fully furnished apartment includes an ensuite bathroom, kitchen equipped with oven, cooktop and dishwasher, air conditioning and built in robes. Located in one of Melbourne's busiest hotels this apartment has access to a gym and pool along with onsite conference facilities and concierge
Term - 2020 with a further 5 year option
Rent - Current return per year is $18,366.96 plus a 3% increase in October next year
ROI - 7.06% NET
Owners benefits include the following
Long term lease till 2025
7 % plus net returns available
Owners do not pay owners corp fees, council or water rates
Yearly 3% CPI increases
Set and forget lease to one of Australia's largest Hotel chains
100% occupancy and rent paid on time
If you are frustrated with your current returns then this could be what you are looking for.
Call Nick Richards today to discuss on 0404 099 310
Property History for 714/480-490 Collins St, Melbourne, VIC 3000
- 10 Nov 2017Sold for $260,000
- 02 Feb 2017Listed for Sale $260,00 - $280,000
- 27 May 2008Sold for $246,000
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 64,264 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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