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1517/222 Russell Street, Melbourne, Vic 3000 For Sale
1517/222 Russell Street, Melbourne, Vic 3000 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Image 1517/222 Russell Street, Melbourne, Vic 3000-Floorplan

1517/222 Russell Street, Melbourne, Vic 3000

$380,000

Apartment
Type
1
Bedrooms
1
Bathrooms
7 m²
Area

Published on Monday, May 18, 2026 ( See property details for 1517/222 Russell Street, Melbourne, Vic 3000)

$380,000

  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A modern one-bedroom serviced apartment in Melbourne's vibrant Chinatown, offering resort-style amenities and a secure lease until 2029, ideal for investors or future owner-occupiers.

🏡 Property Highlights

  • Prime 15th-floor apartment with a preferred Northerly aspect
  • Secure lease until October 2029 with a reputable tenant (Mantra Group)
  • Generous 65m2 open-plan living/dining area with natural light
  • Resort-style amenities including heated pool, spa, sauna, gym, and sun deck
  • Excellent location in Melbourne's Chinatown and theatre precincts
  • Potential for owner occupation from November 2029

✨ Key Features

  • Open-Plan Living
  • Balcony
  • Ensuite
  • Security Screens / Gates
  • Fly Screens
  • NBN / High-Speed Ready
  • Waterfront / Views
  • Built-in Robes
  • Outdoor Area
  • Home Office / Study

Located in Melbourne's vibrant CBD, this apartment offers unparalleled access to Chinatown, theatre districts, and entertainment venues. The area boasts excellent walkability, diverse dining options, and cultural attractions. Its central position ensures easy access to public transport and city amenities. The neighbourhood is renowned for its lively atmosphere and cosmopolitan lifestyle. Perfect for those seeking a dynamic urban living experience.

What are the key features of this apartment?
This apartment features a spacious open-plan living and dining area, a king-sized bedroom with built-in robes, an ensuite bathroom, a balcony, and access to resort-style amenities including a heated pool, spa, sauna, gym, and sun deck.
Is the apartment currently leased, and what is the rental income?
Yes, the apartment is leased to the Mantra Group until October 2029, generating an annual rent of $37,027, approximately $710 per week.
What are the future owner options for this property?
Owners can occupy the apartment from November 2029, after the current lease term ends.
What amenities are available within the building?
Residents have access to a heated pool, spa, sauna, gym, sun deck, and a quality restaurant and bar on Level One, with good security features.
What are the approximate annual outgoing costs for owners?
The approximate owner outgoings include Owners Corporation maintenance of $1,037, utilities levy of $1,704, council rates of $1,725, and water rates of $1,129 per annum.
Are there any upcoming strata or building maintenance works scheduled that could affect costs or access? Has the building been recently inspected for structural or pest issues? Are there any restrictions or easements affecting the property? What are the long-term plans for the building or surrounding area that could impact value? Is the property compliant with all local building and safety regulations? Are there any planned developments or zoning changes in the vicinity? What are the total costs involved in purchasing, including stamp duty and legal fees? Are there any known issues with the building's amenities or services? Is there any history of flooding or bushfire risk in this area? What are the terms of the lease renewal options and potential rent increases?

1517/222 Russell Street, Melbourne, Vic 3000 - More Details

$380,000

Enjoy the benefits of secure lease until 2029 with this prime one bedroom serviced apartment Situated on the 15th floor and with a preferred Northerly aspect is this generous one bedroom apartment measuring some 65m2. The huge open plan living/dining area has an adjoining fully equipped kitchen plus excellent natural light. King sized bedroom with BIRs and sparkling en suite including shower over bath and euro laundry. There is also a 7 square meter balcony which is accessible from the lounge.

The property offers a heated pool, spa, sauna, gym and sun deck, plus a quality restaurant and bar on Level One and good security. The building is in a fantastic Melbourne location in the heart of the Chinatown and theatre precincts – all making this a very desirable investment choice.

Leased to the Mantra Group on a rolling one year lease until October 2029, this investment opportunity is worthy of consideration for your property portfolio.

Owners can occupy this apartment from November 2029.

IMPORTANT INFORMATION:

RENT: $37,027pa
($710 per week approx.)

INCREASE: Annual 3% increases in November

RETURN: 9.7% (Gross)
8.3% (Nett)

LEASE: Until October 2026

OPTIONS: 3 x 1 years

TENANT (Mantra) PAYS:
Owners Corporation Admin Fees
Insurance
General maintenance

APPROXIMATE OWNER OUTGOINGS:

OC Maintenance: $1,037 pa
Utilities Levy: 1,704 pa
Council Rates: $1,725 pa
Water Rates: $1,129 pa

Inspection is by private appointment.

For further details please contact:
Nick Walters of Kingsford Property - 0438 557 885
[email protected]

Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information has been provided by third parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. We urge all interested parties to conduct their own due diligence and seek independent professional legal advice to ensure this information is accurate.
Type
Apartment
Bedrooms
1
Bathrooms
1
Area
7 m²
House Size
65 m²

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