220/185 Lennox StreetRichmond VIC 3121
Property Details for 220/185 Lennox St, Richmond
220/185 Lennox St, Richmond is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2006. The property has a floor size of 51m2.
Last Listing description (December 2019)
This is a 50sqm one bedroom apartment within the Adara Richmond complex offering an Easterly aspect from level two.
The stylishly appointed interior is comprised of a fully equipped kitchen with stone bench top, high quality furnishings, generous sleeping quarters, separate bathroom, laundry facilities, central heating/cooling and a lounge area leading to a Juliette balcony. The complex offers an indoor gymnasium and secure entry. Positioned within walking distance to Richmonds retail boutiques, cafes, restaurants and bars, this is ideal for the astute investor. Melbournes CBD and Sports and Entertainment precinct is also within walking distance or a short tram ride away.
The apartment is presently leased to the Adara group until November 2020 with additional options thereafter.
NB: THIS IS FOR THE ASTUTE INVESTOR ONLY NOT FOR OWNER OCCUPATION.
RENT: $25,482 pa ($490 per week approx.)
INCREASE: Annual 4% increase between market reviews
RETURN: 7.00% gross
LEASE: Until November 2020
OPTIONS: 4 x 5 years
TENANT (Adara) PAYS:
Owners Corporation fees
Insurance
General maintenance
Water usage
OWNER PAYS:
Council rates: $920 pa (approx)
Water rates: $665 pa (approx)
Maintenance fund: $610 pa (approx)
For further inquiries, please contact:
Nick Walters of Kingsford Property - The Serviced Apartment Specialists
0438 557 885
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 220/185 Lennox St, Richmond, VIC 3121
- 18 Jun 2019Listed for Sale $364,000
Recent sales nearby
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About 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 22,685 properties. Over the last 5 years, Houses in Richmond have seen a -0.76% decrease in median value, while Units have seen a -0.86% decrease. As at 30 April 2026:
- The median value for Houses in Richmond is $1,435,356 while the median value for Units is $636,503.
- Houses have a median rent of $875 while Units have a median rent of $600.
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