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5/63 Melba Street, Downer ACT 2602

$280,000+

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$280k - $294k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 1 Bed 1 Bath 1 Car

Listed: 54 days ago

Updated: 19 hours ago

Overview

This well-priced apartment on Melba Street offers an ideal opportunity for first home buyers or investors seeking access to Canberra's Inner North without the typical high cost. Located on the second floor of a quiet eight-unit complex, it presents a practical, functional layout that serves as a comfortable home or investment property.

The apartment features a spacious one-bedroom design complemented by a bathroom and a dedicated car space, ensuring convenience and security. Year-round comfort is provided through reverse-cycle heating and cooling, while exclusive storage and an external laundry add valuable utility.

Though currently tenanted until March 2027, offering immediate rental income, the apartment invites personalization and improvement. With reachable updates such as a new kitchen, bathroom refresh, and flooring upgrades, owners have the chance to enhance their living space and make it uniquely their own.

Positioned in the heart of Downer, this location offers exceptional convenience with close proximity to local shops, Dickson and Watson precincts, light rail access, and easy connectivity to Canberra’s CBD. It strikes a balance between affordable entry and desirable lifestyle, making it attractive to a range of buyers.

One bedroom, bathroom, and car space in a quiet complex
Second-floor position offers privacy and peacefulness
Reverse-cycle climate control for year-round comfort
Exclusive storage and laundry enhance functionality
Leased until March 2027, returning $410 per week for investors
Close to shops, light rail, cafes, and parks in Canberra’s Inner North
Affordable entry into a sought-after location
Body corporate fees, rates, and potential land tax outlined for clear ownership costs

Local Market Insights

In Downer, Quiet Listings observed 10 new apartments entering the market over the last 30 days, up from 8 during the previous 30-day period, with an average advertised asking price of $533,800. The property type mix of listed properties is predominantly Houses at 35%, followed by apartments (32%), and townhouses (18%). The most active agency for apartments in the Downer area is currently addy real estate., representing 30% of new listings, followed by independent with 20%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.