Property Details for 1 Albert St, Rainbow
1 Albert St, Rainbow is a 3 bedroom, 3 bathroom Unit with 3 parking spaces and was built in 1975. While the property is not currently for sale or for rent, it was last transferred in November 2004.
Last Listing description (February 2023)
A BLOCK OF 3 units -9.27% Gross return.
Here is an opportunity to purchase this block of 3, 1 bedroom units. Now fully occupied they make an ideal investment.
Unit 1 is periodically rented for $110pw and it has been rented to this tenant since October 2019
Unit 2- is currently rented for $110pw. Lease expires 21st April 2023
Each unit has a kitchen, lounge and a combined bathroom/ laundry.
All units have modern electrical switch boards, electric appliances and reverse cycle A/C. There is a carport, storeage shed and a large rainwater tank with pump.
The units are individually metered for power but there is only one water meter.
Property History for 1 Albert St, Rainbow, VIC 3424
- 01 Feb 2023Listed for Sale Contact Agent
- 25 Aug 2022Sold - Price Undisclosed
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About Rainbow 3424
The size of Rainbow is approximately 890.7 square kilometres. It has 5 parks covering nearly 8.9% of total area. The population of Rainbow in 2016 was 683 people. By 2021 the population was 672 showing a population decline of 1.6% in the area during that time. The predominant age group in Rainbow is 60-69 years. Households in Rainbow are primarily childless couples and are likely to be repaying $300 - $449 per month on mortgage repayments. In general, people in Rainbow work in a managers occupation.In 2021, 81.30% of the homes in Rainbow were owner-occupied compared with 82.20% in 2016.
Rainbow has 602 properties. Over the last 5 years, Houses in Rainbow have seen a 114.59% increase in median value, while Units have seen a 119.13% increase. As at 30 November 2025:
- The median value for Houses in Rainbow is $177,618 while the median value for Units is $400,720.
- Units have a median rent of $115.
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