114/185 Lennox StreetRichmond VIC 3121
Property Details for 114/185 Lennox St, Richmond
114/185 Lennox St, Richmond is a 1 bedroom, 1 bathroom Unit. The property has a land size of 50m2.
Last Listing description (December 2023)
Premium 50m2 one bedroom serviced apartment benefiting from a long term lease, annual increases and substantially reduced outgoings.
Positioned high on Richmond Hill it boasts a stylish interior with high quality fixtures and fittings throughout and is offered in as new condition.
The CBD edge location is outstanding being amongst the cafes, restaurants and retail that the area is famous for just a short walk to the MCG or quick tram to the city.
NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.
RENT: $26,078 pa ($2,173 per month)
INCREASE: Annual 4% increase between market reviews (From 2024)
RETURN: 8.7% Gross
7.9% Net
LEASE: Until November 2024
OPTIONS: 4 X 5 years
TENANT (Adara) PAYS:
Owners corporation administration fees
Insurance
General maintenance
Water usage
OWNER PAYS:
Council rates: $704pa
Water rates: $554pa
Owners corporation maintenance fund: $1,142pa
Inspection is by private appointment.
For further details please contact Nick Walters
Kingsford Property - Melbourne's Serviced Apartment Specialists.
M: 0438 557 885
E: nick@kingsfordproperty.com.au
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 114/185 Lennox St, Richmond, VIC 3121
- 07 Jul 2023Listed for Sale Not Disclosed
Recent sales nearby
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0About Richmond 3121
The size of Richmond is approximately 4.4 square kilometres. There are 20 parks, covering nearly 4.9% of the total area. The population of Richmond in 2016 was 27705 people. By 2021 the population was 28587 showing a population growth of 3.2% in the area during that time. The predominant age group in Richmond is 20-29 years. Households in Richmond are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Richmond work in a professional occupation.In 2021, 43.00% of the homes in Richmond were owner-occupied compared with 40.80% in 2016.
Richmond has 22,644 properties. Over the last 5 years, Houses in Richmond have seen a -6.21% decrease in median value, while Units have seen a 0.51% increase. As at 30 June 2026:
- The median value for Houses in Richmond is $1,428,567 while the median value for Units is $652,166.
- Houses have a median rent of $895 while Units have a median rent of $600.
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