Property Details for Lot 1704/222 Russell St, Melbourne
Lot 1704/222 Russell St, Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2000.
Last Listing description (October 2018)
With a secure long term lease (5+5+5+5) to the Mantra Hotel Group, this spacious serviced apartment also includes a car park with a 5+5 year lease certainly presents a first class opportunity for investors to secure a worry free prime investment property in this tightly held complex with high rental returns. Currently a total gross rental of $35,231.76 pa with 3% annual increases between 5 year Market Reviews and the tenant paying Owners Corporation fees (excluding any levies).
Being Lot 1704 - Apartment 1701 and superbly positioned featuring a quality contemporary elegance, a surprisingly spacious floor plan and a northerly aspect. Comprising a most generous open plan living and dining area with access to a large balcony, a designated well appointed kitchen area and a Euro style laundry. The double sized bedroom also has balcony access, built in robes and a fully tiled en suite bathroom.Features also include central heating and cooling, a secure car park (Lot 147) and access to building facilities including pool, gym, sauna and in-house restaurant.
A brilliant location close to the theatre district, Chinatown, boutique shopping, QV Melbourne and a host of transport options.
Property History for Lot 1704/222 Russell St, Melbourne, VIC 3000
- 23 Aug 2018Listed for Sale $498,000
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0About 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 64,304 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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