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Back 502/100 Exhibition St
Off Market

502/100 Exhibition St

Melbourne VIC 3000

2
1
Apartment
Last sold for $548,000
Nick WaltersNick Walters, last sold this property on 28 August 2019 after 172 days on market.

Overview

6.3% RETURN MANTRA TWO BEDROOM INVESTMENT APARTMENT

Another apartment SOLD by Nick Walters of Kingsford Property - Melbourne's serviced apartment specialists. If youd like to discuss your investment property options please call me on 0438 557 885 Situated on the fifth level and with the preferred Westerly aspect overlooking Exhibition Street, this is a modern two bedroom apartment of approximately 60 square meters. A large open plan lounge and dining area welcomes the owner from the entrance hall. In addition to the two good sized bedrooms with built in robes, is a fully equipped bathroom, laundry facilities, kitchen, air-conditioning and a security entrance completes the picture. The property is in a prime Melbourne location at the Paris end of the CBD with high end retail shopping close at hand. As part of the Mantra lease terms, owners DO NOT pay Owners Corporation Fees, Council Rates,Water Rates, Insurance or General Maintenance. This apartment is in a secure long term lease with the Mantra Group, and is run as a 4 ½ star rated serviced apartment hotel. NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION RENT: $35,360 pa ($2,946 per month - approx) INCREASE: Annual 4% increase between market reviews RETURN: 6.3% (Gross) LEASE: Until March 2023 OPTIONS: 3 x 5 years TENANT (Mantra) PAYS: Owners Corporation fees Council & Water rates Insurance General maintenance Water usage OWNER PAYS: Maintenance fund: $2,260 pa (Approx.) For further information 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.

Features

2 bedrooms
1 bathroom
Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Melbourne over the last 12 months, the estimated median property value of 502/100 Exhibition St is $541.25k.

Median value
$541.25k
Estimated value range
$237k - $3m
Median days on market
48
Estimated value trend
-2%
decrease 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 502/100 Exhibition St

2019
Sold
$548,000
Private Sale/Treaty on 28 Aug 2019 by Nick Walters, of Kingsford Property

Happy sellers in Melbourne

85%
85% 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 124 reviews in Melbourne over the last 12 months.

Local market activity for 2 bedroom apartments in Melbourne

In the last 12 months, 766 two-bedroom apartments similar to 502/100 Exhibition St, have been sold.

This represents a 3% increase in two-bedroom apartments sales when compared to the previous 12 months.

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