Cubo, Richmond mortgagee listing reflects deteriorating price
A two bedroom two bathroom Richmond apartment has been listed by its mortgagee.
Located at 305/59 Coppin Street, Richmond the apartment comes with a $570,000 price.
The apartment last sold at $549,500 in 2012.
There were no sales in the building last year, with 2017 seeing similar size apartments sell at $615,000 and $620,000.
Set on 76 sqm the apartment was constructed in 2012 in the Cubo building.
The unit was listed as a rental for $585/pw in April last year.
However the Biggin & Scott marketing suggests its rent potential is currently at up to $550 per week for the apartment.
Featuring a single garage space the home is located withing a short distance of numerous amenities
The home was taken to auction in February last year and failed to sell.
It was also listed for 140 days in 2016 for $530,000.
The median price for an apartment in Richmond, Vic is $575,000, according to CoreLogic data the annual change in median price over the past decade is 2.9% per year.