506/60 Market Street
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About this property
INVESTORS NOTE: SECURELY LEASED UNTIL SEPTEMBER 2031 Spacious studio apartment with generous and well positioned study nook in the entry hall. Views facing out over tree lined Market Street. Investors will appreciate the solid and secure rental return with Oaks until 2031, whilst providing longer term opportunities beyond 2031 to move in, use as the perfect city pad, or perhaps continue leasing the property on either a short stay or long term basis. Outgoings payable by tenant: OC admin fees, council rates, water rates Owner pays: OC Sinking Fund approx $1,500pa Leased to Oaks on Market Serviced Apartments until 1st September 2031. Current rental is $1,343.33 per month, increasing to $1,383.63 on 1st September 2026, with annual automatic CPI increases for the remaining 4 years of the lease. This is a set and forget investment which is perfect for an astute investor or SMSF buyer looking for an ultra affordable investment returning positive cash flow from day 1, and perhaps someone with an eye to having an extremely affordable CBD pad in future years in a highly sought after and regarded building.
Property Details
- Property Type
- apartment
- Listing Type
- Off-market
- Bedrooms
- 1
- Bathrooms
- 1
- Listed
- 2 months ago
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Neighbourhood
Living in Melbourne
This 1-bedroom apartment in Melbourne, VIC 3000 sits within reach of public transport, local shops and nearby schools. It is listed 52% below the $480,000 median of 73 comparable apartmentswithin 5 km.
Schools near Melbourne
- Eltham College - Lonsdale Street Campuscombined
- Melbourne Grammar Schoolcombined · Prep-12 · CoEd
- Melbourne Grammar School - Wadhurst Campuscombined
- Victorian College For The Deafcombined · U · CoEd
- Wesley Collegecombined · Prep-12 · CoEd
- Holmes Grammar Schoolsecondary · 11-12
What's nearby
- Southgate Landing - Berth 1 (ferry) — 476 m away
- Rapha — 719 m away
- Market Street Park — 49 m away
- Unnamed — 569 m away
- Unnamed — 631 m away
Melbourne at a glance
Full suburb profile- Population
- 54,941
- Median age
- 29
- Household income
- $1,448/wk
- Median rent
- $381/wk
- Median mortgage
- $1,800/mo
Source: ABS Census.
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Suburb market
Suburb price trend
Melbourne price trend
Median sold · Unit 1 bed
Compound growth -0.8% / yr over 4 yrs
Suburb-wide medians from sold listings — a guide to the area, not this specific property.
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