1310/333 Exhibition Street

Off Market

1310/333 Exhibition Street

Melbourne VIC 3000

50 m²

Apartment

Last sold for $335,000

SUNNY LU, last sold this property on 22 April 2020 after 97 days on market.

Overview

FANTASTIC MANTRA APARTMENT INVESTMENT OPPORTUNITY!

Located in the Mantra on the Park, this delightful one bedroom serviced apartment offers investors a sustainable return and income with 3% annual increases. Currently leased until 2035 on a 5 X 5 X 5 X 5 management lease, the rental income is calculated at $1823 per month as of 30th October including the 3% increase which occurs each October during the entire lease providing investors with a solid 6% net return with very minimal outgoings of approx. $1700 pa (no owners corporation fees payable by owners, these are paid for by Mantra) and this return will only increase further upwards. Rental reviews are conducted every five years and have always increased in past reviews. Apartment 1310 is Situated on the 13th level and featuring a spacious 50 sqm floor plan plus a balcony with a light filled south-west and northerly aspect and good city views, this apartment is fully fitted out with furniture and appliances and consists of an open plan kitchen, living and dining area, good size bedroom, main bathroom off the bedroom which includes a built in laundry with washer and dryer. Facilities include swimming pool and sauna and gymnasium. Mantra on the Park is located just opposite the Exhibition Buildings and is in striking distance to the Melbourne theatre precinct, all the incredible restaurants in Little Bourke Street's China Town, all of Melbournes main sporting venues as well as all the excitement of the CBD and is in constant demand all year round. Unlike some serviced apartment investment properties, there is no busy period with this apartment because this is Melbourne and with 'something' always happening whether it be the Melbourne Cup, the Grand Final, the Australian Open, the Comedy Festival, the Grand Prix or the Cricket, theatre shows, opera or whatever - its continually booked out all through the year which secures your investment even further as an asset for both you and the Mantra! This is truly a perfect opportunity for investors to add to their portfolio and an ideal income stream for self-managed superannuation fund beneficiaries. INSPECT AS ADVERTISED. CONTACT AGENT FOR FURTHER DETAILS.

Features

1 bedroom

1 bathroom

50 m² floor area

Apartment

Estimated Value

Based on this property and similar 1 bedroom apartments sold in Melbourne over the last 12 months, the estimated median property value of 1310/333 Exhibition Street is $355k.

Median value

$355k

Estimated value range

$39k - $935k

Median days on market

Estimated value trend

increase over the last 12 months

Average days on market is based on recent, comparable sales in Melbourne. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 1310/333 Exhibition Street

2020

Sold

$335,000

Auction Sale on 22 Apr 2020 by SUNNY LU, of Professionals SunKing Group

Happy sellers in Melbourne

83%

83% of sellers in Melbourne reported that their sale price either exceeded or met their price expectations.

Melbourne stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 120 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 583 one-bedroom apartments similar to 1310/333 Exhibition Street, have been sold.

This represents a 20% increase in one-bedroom apartments sales when compared to the previous 12 months.

Sold

For Sale

For Rent

Interested in selling?

People are reaching out to these agents in Melbourne for a free market appraisal.

Annamaria Stella

at Twig Real Estate

(402 reviews)

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Dionne Wilson

at Harcourts Melbourne City

4.9

(243 reviews)

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Philip Middlemiss

at Re-define Real Estate

(127 reviews)

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Lizzie Zhang

at Forge Real Estate

(14 reviews)

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Nearby agents

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Annamaria Stella

Annamaria Stella is an award winning recommended agent for Melbourne. They have 14 local sales and collected 32 local reviews across the last 12 months.

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Dionne Wilson

Sellers who recommend Dionne Wilson have praised them for being clear communication, local expert, honest, responsive, supportive, dedicated and friendly

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Philip Middlemiss

Sellers who recommend Philip Middlemiss have praised them for being local expert, clear communication, responsive, supportive, well-prepared, strategic and reliable