FOR SALE
$145,000

510/42 Porter Street
Prahran VIC 3181

Bedrooms: 1
Bathrooms: 1
Car spaces: -
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Prime Quality Investment Opportunity in Student Accommodation!

Currently, this apartment offers a stable and attractive rental return on a monthly tenancy leased at $13,032 P.A.
The rent will be increased upon signing a new lease, reflecting the strong demand for student housing in the area.
Situated in a prime location, this student accommodation apartment presents a compelling investment opportunity. It is poised to yield consistently growing rental returns as students flock back to the country. With strong immigration growth and a surge of international students, rents are anticipated to continue to rise steadily in the foreseeable future.
Located on the fifth floor, this apartment provides a serene environment with urban views over the leafy suburbs. It is designed with student needs in mind and features a fully equipped kitchen with a gas cooktop, ample storage, and modern stainless steel appliances, including a microwave and dishwasher. The living area opens onto a private balcony, adding to the apartment's appeal. The single bedroom has a built-in robe and shelf for convenient storage, and the bathroom is well-appointed with contemporary fixtures and generous shelving. The building includes communal breakout areas and laundry facilities, enhancing the student living experience.
This apartment is perfectly positioned just a 2-minute walk from Prahran train station and offers direct access to CBD campuses. It's also just a short distance from the bustling Greville and Chapel Street areas, making it an ideal choice for students worldwide.
Approximate Outgoings:
Strata Fees: $1,963.60
Council Rates: $480.00
Water Rates: $640.00
Seize This Exceptional Opportunity in the Student Accommodation Market.
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Property Details for 510/42 Porter St, Prahran

510/42 Porter St, Prahran is a 1 bedroom, 1 bathroom Studio. The place is currently for sale with Scott Banks Real Estate Group.

Building Type
Studio

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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 10,644 properties. Over the last 5 years, Houses in Prahran have seen a 15.74% increase in median value, while Units have seen a 8.76% increase. As at 30 September 2024:

  • The median value for Houses in Prahran is $1,752,374 while the median value for Units is $571,029.
  • Houses have a median rent of $750 while Units have a median rent of $525.
There are currently 32 properties listed for sale, and 10 properties listed for rent in Prahran on OnTheHouse. According to CoreLogic's data, 506 properties were sold in the past 12 months in Prahran.

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Scott Banks
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