SOLD
Sold on 06 May 2024 for $216,500

103/48-54 Wellington Parade
East Melbourne VIC 3002

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Land area: 767m2
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Property Details for 103/48-54 Wellington Pde, East Melbourne

103/48-54 Wellington Pde, East Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 1939. The property has a land size of 767m2. While the property is not currently for sale or for rent, it was last sold in May 2024. There are other 1 bedroom Unit sold in East Melbourne in the last 12 months.

Building Type
Unit
Year Built
1939
Land Size
767m2
Local Government
Melbourne
Lot/Plan
103/PS549500

Last Listing description (May 2024)

A fantastic option to kick-start or add to your portfolio, this apartment within the renowned Quest East Melbourne is ideal for investors looking for a securely leased property with guaranteed returns, all within strolling distance to Melbourne's impressive array of inner-city attractions.

This spacious level one serviced apartment on Wellington Parade receives an impressive annual rental of approx. $21,327.36 per annum until August 2027, with four (4) further terms of five (5) years each. In addition, there are fixed 4% annual rental increases every 12 months.

TENANT PAYS:

Owners Corporation Admin Fees

OWNER PAYS:
Owners Corporation Maintenance Fee
Council Rates
Water Rates

Stylishly fitted out and fully furnished, it comes complete with built-in robes, reverse cycle heating/cooling and flat-screen TV. Guests can also make full use of the guest laundry facilities and roof top terrace, a welcome respite after a day out on the town. Walking distance to the hallowed turf of the MCG, the unbeatable position allows easy access not only to the football and cricket, but also to the Australian Open tennis, leafy East Melbourne Gardens, chic Euro-style cafes in the CBD Paris-end, world-class theatres and shopping, Richmond bars and restaurants, plus various modes of public transport.

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Property History for 103/48-54 Wellington Pde, East Melbourne, VIC 3002

A timeline of how this property has performed in the market
Last Sold
$216,500
06 May 2024
  • 06 May 2024
    Sold for $216,500
  • 17 Nov 2023
    Listed for Sale $220,000 - $240,000
  • 31 Dec 2022
    Transferred
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About East Melbourne 3002

The size of East Melbourne is approximately 1.9 square kilometres. It has 10 parks covering nearly 46% of total area. The population of East Melbourne in 2011 was 4,714 people. By 2016 the population was 4,987 showing a population growth of 5.8% in the area during that time. The predominant age group in East Melbourne is 30-39 years. Households in East Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in East Melbourne work in a professional occupation. In 2011, 42.8% of the homes in East Melbourne were owner-occupied compared with 43.6% in 2016.

East Melbourne has 5,699 properties. Over the last 5 years, Houses in East Melbourne have seen a -8.26% decrease in median value, while Units have seen a -10.90% decrease. As at 30 September 2024:

  • The median value for Houses in East Melbourne is $3,090,845 while the median value for Units is $737,459.
  • Houses have a median rent of $1,100 while Units have a median rent of $620.
There are currently 42 properties listed for sale, and 25 properties listed for rent in East melbourne on OnTheHouse. According to CoreLogic's data, 229 properties were sold in the past 12 months in East melbourne.

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