Property Details for 16/518 Princes Hwy, Narre Warren
16/518 Princes Hwy, Narre Warren is a 2 bedroom, 1 bathroom Unit.
Last Listing description (July 2025)
Investor Only - No Owner Occupiers - 7.92% Gross Return - 2 Bedroom, 1 Bathroom, Serviced Apartment
16/504 PRINCES HIGHWAY, NARRE WARREN
Summary:
Type: 2 Bed, 1 Bath Serviced Apartment with Parking
Tenant: Quest Serviced Apartment Hotel
Monthly Rent: $2,045.03
Outgoings:
Owners Corporation Maintenance Fund: $319.63 per quarter (Owner's Contribution)
All other outgoings paid by tenant
Rent Increase: 4% in July 2024
Market Rent Review: Scheduled for 2025
Lease Terms: Further 3 terms of 5 years, next term commencing in 2025
About Quest Serviced Apartment Hotel:
Quest is a leading provider of serviced apartment accommodation, offering spacious and comfortable living spaces for short and long-term stays. With a strong reputation for quality service and hospitality, Quest attracts both leisure and business travellers, ensuring consistent rental income for property owners.
About Narre Warren:
Narre Warren is a vibrant suburb known for its family-friendly environment, excellent amenities, and convenient access to transportation. Residents enjoy proximity to shopping centres, schools, parks, and recreational facilities, making it a highly sought-after location for investors.
Property Features:
This spacious 2-bedroom serviced apartment offers modern living with convenience at your doorstep. With Quest Serviced Apartment Hotel as the tenant, investors can enjoy hassle-free ownership and a reliable rental income stream.
Why Invest:
Established Tenant: Quest Serviced Apartment Hotel ensures stable rental income.
Convenience: Close to amenities, schools, parks, and public transport.
Future Growth: Rent increase and market rent review offer potential for increased returns.
Long-Term Lease: Further lease terms provide security and peace of mind for investors.
Property History for 16/518 Princes Hwy, Narre Warren, VIC 3805
- 09 May 2025Listed for Sale $310,000-$340,000 Exclusive Investment-Only
Recent sales nearby
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0About Narre Warren 3805
The size of Narre Warren is approximately 14.0 square kilometres. There are 52 parks, covering nearly 9.0% of the total area. The population of Narre Warren in 2016 was 26621 people. By 2021 the population was 27689 showing a population growth of 4.0% in the area during that time. The predominant age group in Narre Warren is 30-39 years. Households in Narre Warren are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Narre Warren work in a trades occupation.In 2021, 69.20% of the homes in Narre Warren were owner-occupied compared with 71.70% in 2016.
Narre Warren has 12,275 properties. Over the last 5 years, Houses in Narre Warren have seen a 11.63% increase in median value, while Units have seen a 22.96% increase. As at 31 August 2026:
- The median value for Houses in Narre Warren is $809,701 while the median value for Units is $584,217.
- Houses have a median rent of $580 while Units have a median rent of $530.
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