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Back 1403/480 Collins St
Off Market

1403/480 Collins St

Melbourne VIC 3000

1
Apartment
Last sold for $308,000
Nick RichardsNick Richards, last sold this property on 13 November 2019 after 298 days on market.

Overview

Best returns on offer - 7%

Are you looking to purchase a property that will actually make you money ? Tired of paying huge body corp fees, council and water rates? Not interested in paying your managing agent 7 % of the rent. Nervous about the residential rental market dropping or if you can't lease your property? Even worse have you had a tenant cause damage or fail to pay rent on time? Now you do not need to worry about any of this as this serviced apartment is guaranteed to perform This investment opportunity is ideally suited to smart investors looking for a high return around 7%. With a long term lease in place until 2025 this is the perfect set and forget opportunity you have been waiting for. With a $22,103.64 yearly return paid in 12 monthly payments this is perfect for SMSF or savvy investors looking for an investment property that provides 100% occupancy. Best of all you don't even need to pay owners corporation fees*, council or water rates. All this together with 3% rental increases per year make this the investment opportunity of the year. • You do not pay for any owners corporation admin fees • You do not pay for any council rates, water rates • You do not pay any usage charges for electricity or water • No late payments on rent - payed monthly on time • No GST on the purchase price • 100% occupancy with a long term lease ( 2025 ) • You do not pay for any damage • Monthly and yearly statements sent directly to you • No need for a real estate agent or property manager • Stable returns with yearly 3% increases This has views across Collins St towards the Yarra River. Inside the fully appointed and recently refurbished studio includes stone benches, air-conditioning, robes, and a fully equipped kitchen. This immaculate apartment is located towards the top of the building and has all the smart traveler could need. Take the opportunity to purchase into one of Australia's leading Hotel chains and capitalize on this sound investment. It is anticipated that the Oaks will extend their lease on properties in the building to 2035. Take the time to inspect or ask for a copy of the contract. Call Nick on 0404 099 310

Features

1 bathroom
Apartment

Estimated Value

Based on this property and similar apartments sold in Melbourne over the last 12 months, the estimated median property value of 1403/480 Collins St is $214k.

Median value
$214k
Estimated value range
$167.5k - $305k
Median days on market
84
Estimated value trend
10%
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 1403/480 Collins St

2019
Sold
$308,000
Private Sale/Treaty on 13 Nov 2019 by Nick Richards, of Precinct Real Estate
2015
Sold
Undisclosed
Private Sale/Treaty on 22 Mar 2015 by Martin Mashni, of Dingle Partners

Happy sellers in Melbourne

84%
84% 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 133 reviews in Melbourne over the last 12 months.

Local market activity for apartments in Melbourne

In the last 12 months, 16 apartments similar to 1403/480 Collins St, have been sold.

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

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Catherine Sheo

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