FOR SALE
$190,000

310/42 Porter Street
Prahran VIC 3181

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Land area: 20m2
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STUDENT ACCOMMODATION ONLY WITH CARPARK

Introducing a rare gem in student accommodation: a property with a basement car park on the title deed!
Leased until 29 December 2024 at $14,856 P.A. The carpark could also be leased for around $2,400 P.A. = $17,256.
*The rent is expected to increase to around $16,900 in 2025, plus the carpark rent of $2,600 = $19,500 P.A
Situated in a prime location, this student accommodation apartment presents a compelling investment opportunity, poised to yield consistent rental returns as students continue to flock back to the country. Currently unoccupied, this property is a blank canvas waiting to be claimed. With strong immigration growth and OS students coming to the country to study in droves, rents are expected to continue to increase in the foreseeable future!
Perched on the third floor, this apartment offers urban vistas that overlook the lush suburbs, providing a refreshing view for occupants to enjoy during their study breaks. Tailored for student living, it boasts a fully functional kitchen with a gas cooktop, abundant storage, and sleek stainless steel appliances, including a microwave and dishwasher. The living room seamlessly opens up to a private balcony, enhancing the sense of space and comfort. The single bedroom has a built-in robe and shelf for convenient storage. The well-appointed bathroom features modern fixtures and ample shelving. Furthermore, this purpose-built building offers communal breakout areas and suitable laundry facilities for residents.
This property is perfectly positioned, just a 2-minute stroll from Prahran train station, which offers direct access to CBD campuses. Moreover, it's just moments away from the vibrant Greville and Chapel Street areas, making it the ultimate destination for students from all corners of the globe.
Outgoings:
Strata Fees: $1,963.60
Council Rates: $480.00
Water Rates: $640.00
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Property Details for 310/42 Porter St, Prahran

310/42 Porter St, Prahran is a 1 bedroom, 1 bathroom Studio with 1 parking spaces. The property has a land size of 20m2. The place is currently for sale with Scott Banks Real Estate Group.

Building Type
Studio
Land Size
20m2

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About Prahran 3181

The size of Prahran is approximately 1.9 square kilometres. It has 8 parks covering nearly 6.3% of total area. The population of Prahran in 2011 was 11,191 people. By 2016 the population was 12,985 showing a population growth of 16.0% in the area during that time. The predominant age group in Prahran is 20-29 years. Households in Prahran are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Prahran work in a professional occupation. In 2011, 42.7% of the homes in Prahran were owner-occupied compared with 39.3% in 2016.

Prahran has 10,558 properties. Over the last 5 years, Houses in Prahran have seen a 10.60% increase in median value, while Units have seen a 5.10% increase. As at 31 October 2024:

  • The median value for Houses in Prahran is $1,718,651 while the median value for Units is $555,773.
  • Houses have a median rent of $760 while Units have a median rent of $525.
There are currently 31 properties listed for sale, and 15 properties listed for rent in Prahran on OnTheHouse. According to CoreLogic's data, 484 properties were sold in the past 12 months in Prahran.

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Scott Banks
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