Positioned within the iconic Cambridge Court complex, this well-presented one-bedroom apartment presents an outstanding opportunity for investors seeking an affordable entry into Melbourne's vibrant inner-city property market.
Currently vacant, the apartment was most recently rented at $500 per week, equivalent to $26,000 annually at that rental rate. This provides prospective investors with a useful benchmark when assessing potential rental returns, subject to market conditions and future leasing arrangements.
Offering a practical layout, renovated interiors and the added convenience of a secure, designated car space, this apartment combines lifestyle appeal with investment flexibility in a location renowned for its proximity to Melbourne's leading universities, major hospitals and CBD.
The thoughtfully designed floorplan features a generous bedroom and an open-plan living and dining area enhanced by natural light. The renovated central bathroom includes a bathtub with an overhead shower, while the standout kitchen has been stylishly upgraded with a contemporary island, marble benchtop, integrated refrigerator, dishwasher and electric oven. Floating shelves and ample cabinetry provide excellent storage for cookware, crockery, glassware and everyday essentials.
Further enhancing the apartment's functionality is a dedicated laundry area with an installed washing machine, along with a wall-mounted entertainment unit, additional cabinetry, television and built-in wall-mounted desk. Selected furnishings are also included, comprising a bed frame and mattress, two bench stools and a cabinet table, offering added convenience for future occupants.
The apartment also benefits from a private, designated car space within the secure parking area a valuable feature in this tightly held city-fringe location.
An Unbeatable Inner-City Location
Cambridge Court comprises approximately 77 apartments and remains an appealing option for those seeking convenient, affordable city-fringe living.
Enjoy being moments from the renowned Smith Street shopping, café and dining precinct, the vibrant restaurants of Victoria Street, Fitzroy Gardens and an extensive public transport network, with tram and bus services at your doorstep. North Richmond Station is within walking distance, while Melbourne's CBD is only minutes away.
The location also provides excellent access to Australian Catholic University, RMIT University, the University of Melbourne and several major hospitals, supporting the area's appeal to students, healthcare workers and other city-fringe renters.
Property Features
-Currently vacant; most recent rental return was $500 per week
--Approx. 50.14m² of internal living space
-Generous bedroom
-Open-plan living and dining area
-Renovated kitchen with stylish island and marble benchtop
-Integrated refrigerator, dishwasher and electric oven
-Floating shelves and ample kitchen storage
-Renovated bathroom with bathtub and overhead shower
-Dedicated laundry area with washing machine included
-Additional communal laundry facilities
-Wall-mounted entertainment unit and additional cabinetry
-Built-in wall-mounted desk
-Television, bed frame and mattress included
-Two bench stools and cabinet table included
-Private designated car space for Unit 318
-Secure, gated complex with intercom access
-Communal library/lounge area for residents
-Convenient access to universities, hospitals, public transport and the CBD
Important Information: The property has a history of use as student accommodation. Prospective purchasers should make their own enquiries and refer to the Contract of Sale and Section 32 documentation regarding permitted occupancy and use.
Combining renovated interiors, secure parking, practical furnishings and a highly convenient location, 318/45 Victoria Parade represents an appealing opportunity for investors seeking a foothold in Melbourne's established inner-city market, as well as buyers looking for a low-maintenance city base.
Contact Myles Johansson Area Specialist today for further information or to arrange your inspection.
