OFF MARKET

105/48-54 Wellington Parade
East Melbourne VIC 3002

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 37m2
Land area: 767m2
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Property Details for 105/48-54 Wellington Pde, East Melbourne

105/48-54 Wellington Pde, East Melbourne is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1939. The property has a land size of 767m2 and floor size of 37m2. While the property is not currently for sale or for rent, it was last sold in December 2017.

Building Type
Unit
Year Built
1939
Floor Size
37m2
Land Size
767m2
Local Government
Melbourne
Lot/Plan
105/PS549500

Last Listing description (February 2018)

An opportunity to secure a beautiful heritage rich apartment in the ever demanding 'hot spot' of East Melbourne.
A very spacious studio, cosmopolitan kitchen that was recently updated. Chic and stylish, bedroom alcove, large kitchen and study area, lounge with sofa and dining table.
Rooftop with views across Melbourne.

Current Rent: $394 per week ($20,493 per annum)
Current Return: 6.30%
Rent Increases:
August 2018- $21,312- 6.55%
August 2019- $22,165- 6.81%
August 2020- $23,051- 7.08%
August 2021- $23,973- 7.37%
Lease Terms: Lease to August 2022 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due August 2017)
Walking distance to Yarra Park, The MCG, Olympic Park/ Tennis, Richmond, China Town, Collingwood or the CBD.
The building also boasts a rare rooftop terrace with stunning 360 degree views of Melbourne CBD, Richmond & surrounds.
Completely refurbished in 2014 nothing to do but sit, relax and enjoy the rental income stream in an ever demanding pocket of East Melbourne.
Council Rates: $1320 p/a (approx)
Water Rates: $970.00 pa (approx)
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1756 p/a (approx)

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Property History for 105/48-54 Wellington Pde, East Melbourne, VIC 3002

A timeline of how this property has performed in the market
Last Sold
$326,000
22 Dec 2017
  • 22 Dec 2017
    Sold for $326,000
  • 29 Nov 2017
    Listed for Sale Not Disclosed
  • 06 Nov 2015
    Listed for Sale $315,000
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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 5,748 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 39 properties listed for sale, and 24 properties listed for rent in East melbourne on OnTheHouse. According to CoreLogic's data, 235 properties were sold in the past 12 months in East melbourne.

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