104/48-54 Wellington ParadeEast Melbourne VIC 3002
Property Details for 104/48-54 Wellington Pde, East Melbourne
104/48-54 Wellington Pde, East Melbourne is a 0 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1939. The property has a floor size of 61m2. While the property is not currently for sale or for rent, it was last sold in February 2014.
Last Listing description (April 2020)
An opportunity to secure a beautiful twin studio apartment in the ever demanding "hot spot" of East Melbourne.
Within walking distance to the MCG, Melbourne Tennis Centre, AAMI Stadium, Fitzroy Gardens, The Tan and the Melbourne CBD the apartment boasts a location that would be hard to beat..
The building also boasts a rare communal rooftop terrace with stunning 360 degree views of Melbourne CBD, Richmond & surrounds.
UNDER LONG TERM LEASE WITH QUEST:
Lease Details:
Current Rent: $454 per week ($23,633 per annum)
Current Return: 6.63% Gross / Net 5.36% Net
SET RENTAL INCREASES AS FOLLOWS
August 2020- + 4% increase= $24,575 pa ($472 per week)
August 2021- + 4% increase= $25,559 pa ($491 per week)
August 2022- Market Review
Lease Terms: Lease to 5th August 2022 with 3 x 5 yr options.
Rent Increases: 4% Increases yearly with market rent reviews every 5 years (next due 2022)
Spacious twin bed studio with kitchen, sitting space and inbuilt desk areas and storage.
Just undergone bathroom upgrades, with new timber vanities, tapware and shower hardware.
A beautiful property that displays heritage features such as sash windows and stunning exterior curved glazing and banded brickwork, typical of the art deco buildings within East Melbourne
Property History for 104/48-54 Wellington Pde, East Melbourne, VIC 3002
- 13 Feb 2020Listed for Sale $356,000
- 07 Feb 2014Sold for $310,000
- 25 Jun 2013Listed for Sale FOR SALE $349,990
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0About 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 5,703 properties. Over the last 5 years, Houses in East Melbourne have seen a -3.97% decrease in median value, while Units have seen a -14.90% decrease. As at 31 October 2024:
- The median value for Houses in East Melbourne is $3,332,170 while the median value for Units is $724,506.
- Houses have a median rent of $1,100 while Units have a median rent of $620.
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