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21/3 Studley Park Road, Kew VIC 3101

$139,000 - $149,000

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$139k - $146k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 1 Bed 1 Bath

Listed: 16 days ago

Updated: 10 days ago

Overview

This compact yet well-appointed investment apartment represents a unique opportunity for investors seeking a low-maintenance entry into one of Melbourne's most sought-after suburbs, Kew. Situated within the 'Motel Apartments' complex, the residence is designed to provide a practical and comfortable living environment that capitalises on natural light and clever spatial arrangements.

The apartment’s core appeal lies in its ready-made condition, offering fully furnished interiors including a sleek stone kitchen with ample storage and a modern bathroom with tasteful tiling. Reverse cycle heating and cooling enhances year-round comfort, making this an attractive proposition for tenants and easing management for landlords.

With one spacious bedroom and a combined living and sleeping area, the layout lends itself well to singles or professionals, while the well-considered finishes suggest a contemporary urban lifestyle. The location amplifies the property's value, with the vibrant Kew Junction precinct just moments away, providing an abundance of cafés, restaurants, and essential amenities such as Leo’s Fine Food and Wine supermarket.

Proximity to scenic Studley Park and the Yarra River parks system offers outdoor lifestyle benefits that balance the urban convenience. Excellent transport connectivity including buses, trams, and nearby train stations as well as access to the Eastern Freeway facilitate an easy commute across Melbourne.

This apartment’s steady rental return and projected 3% annual rental growth make it a viable addition to a diversified investment portfolio, appealing particularly to those looking to enter the market with minimal fuss and assured demand.

Local Market Insights

In Kew, Quiet Listings observed 13 new apartments entering the market over the last 30 days, down from 14 during the previous 30-day period, with an average advertised asking price of $1,083,077. The property type mix of listed properties is predominantly Houses at 62%, followed by apartments (24%), and townhouses (9%). The most active agency for apartments in the Kew area is currently Nelson Alexander, representing 31% of new listings, followed by Fletcher's Real Estate Wollongong with 15%. 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.