229/185 Lennox StreetRichmond VIC 3121
Property Details for 229/185 Lennox St, Richmond
229/185 Lennox St, Richmond is a 1 bedroom, 1 bathroom Unit and was built in 2006.
Last Listing description (January 2023)
Perfectly positioned investment opportunity in the heart of Richmond
Immaculately presented, this studio-style apartment in a low-rise, boutique block is perfectly located on one of Richmond's most well-known streets. Situated only moments from Bridge Road, Epworth Hospital and a plethora of boutique stores, cafes and restaurants. Bridge Road trams provide convenient access to sporting venues and the Melbourne city centre.
Part of the 4.5-star Adara Richmond serviced apartment complex, this value-packed property is an investment dream. Currently in it's 2nd term, this property offers 3 further terms of five years (this current term ends November 2025) and provides excellent returns and increases. The property is currently achieving a rental return of $18,310.20 per annum, with 4% rental increases per annum.
This light-filled, fully furnished studio apartment features a modern kitchenette with dishwasher and cooktop, dining area, bedroom with built-in-robe, and private balcony with outdoor seating area and elevated views. Other features include a sparkling bathroom, air conditioning and laundry facilities. Guests enjoy complimentary access to the complex fitness centre.
If you are looking for a set and forget investment property in the heart of Richmond, don't let this rare opportunity pass by.
Contact Silvana Di Camillo to arrange a private inspection or for further information on (03) 9816 4722.
Property History for 229/185 Lennox St, Richmond, VIC 3121
- 04 Jul 2022Listed for Sale $240000
- 17 Apr 2018Listed for Sale Private Sale $215,000
- 26 Jun 2014Listed for Sale $200,000
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 22,686 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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