Southbank, Melbourne mortgagee apartment sells for $200,000 loss

Southbank, Melbourne mortgagee apartment sells for $200,000 loss
Southbank, Melbourne mortgagee apartment sells for $200,000 loss

A Southbank, VIC, mortgagee apartment situated near the Melbourne CBD has sold for $353,000.

It marks a $200,000 reduction on its 2013 sale price of $553,000.

John Pratt and Steven Lee of Dixon Kestles held the listing.

Situated at 3010/151 City Road, the one bedroom one bathroom apartment was sold at auction May 25.

It was previously listed from August 2017 to April 2018 with an asking price of $420,000, however it was unable to sell.

Located near both the CBD and the Melbourne Freeway, it is just a single block from the Crown Casino and within walking distance to Southgate's various cafes and eateries.

Featuring one under cover car space, it is part of the Southbank Grand apartment complex which is host to a heated indoor pool, a gym and a bbq area. 

In August and September of 2017 the property was listed for rent at $485/pw.

Southbank, Melbourne mortgagee apartment sells for 0,000 loss

According to CoreLogic, the annual change in median price for a property in Southbank over the past 10 years is 2%.

Tags: 
Southbank Mortgagee Sale

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