ROOFTOP/48 Wellington ParadeEast Melbourne VIC 3002
Property Details for Rooftop/48 Wellington Pde, East Melbourne
Rooftop/48 Wellington Pde, East Melbourne is a 1 bedroom, 1 bathroom Unit and was built in 1939. The property has a land size of 768m2.
Last Listing description (August 2024)
**THIS PROPERTY NOT ONLY OBTAINED A TOP PRICE, BUT WAS SOLD USING OUR NO UPFRONT COSTS TO OUR OWNERS. TO FIND OUT MORE, PLEASE CONTACT SEAN CHO ON 0435 944 942**
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. $22,464 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.
- $22,464 per annum with 4% annual rent increase
- Market rent review - every 5 years
- Upto 8% ROI with long-term lease
TENANT PAYS:
Owners Corporation Admin Fees
Water Usage
OWNER PAYS:
Owners Corporation Maintenance Fee
Council Rates
Water Rates
Exciting Investment Opportunity in sought-after East Melbourne! Embrace the vibrant essence of East Melbourne with its lush parks, eclectic restaurants, cozy cafes, trendy shopping outlets, convenient transport links, and captivating entertainment options, all just moments away from your doorstep.
This remarkable investment property offers a hassle-free, set-and-forget experience, boasting a secure long-term lease and a lucrative return guaranteed for years ahead.
DO NOT miss an opportunity like this! Get in touch now!
Sean Cho: 0435 944 942
Property History for Rooftop/48 Wellington Pde, East Melbourne, VIC 3002
- 22 May 2024Listed for Sale $250,000 - $275,000
- 25 Mar 2020Listed for Sale $260,000
- 18 Jun 2019Listed for Sale Not Disclosed
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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 5,745 properties. Over the last 5 years, Houses in East Melbourne have seen a -22.88% decrease in median value, while Units have seen a 6.61% increase. As at 28 February 2025:
- The median value for Houses in East Melbourne is $2,922,272 while the median value for Units is $756,153.
- Houses have a median rent of $950 while Units have a median rent of $633.
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