She is known as Charlene of Neighbors and “The singing parakeet”, but now Kylie Minogue can claim the title of savvy real estate investor after selling her Armadale property for $ 1.715 million and making a massive paper profit of $ 1.53 million.

The 53-year-old, one of Australia’s best-selling artists of all time, bought the property at 25 Cambridge Street in 1990, paying just $ 185,000 at the time, according to records.

Inside 25 Cambridge Street, Armadale. Photo: Jellis Craig Boroondara

Jellis Craig Boroondara’s manager and auctioneer Campbell Ward declined to comment on the low-key February sale of the two-bedroom Victorian-style property, only saying the seller had owned the property for some time.

It is understood that the house was used as an investment and has been rented out over the years. Minogue did not live there, although she grew up in the neighborhood, with one of her former family homes located nearby in Camberwell.

The elegant Armadale house features polished parquet floors and a neutral color palette. There is a paved outdoor space perfect for post-COVID-19 gatherings and celebrations.

Kylie Minogue's house
The paved outdoor area. Photo: Jellis Craig Boroondara

Minogue sold the house as the Melbourne real estate market was booming. Homes have sold well above reserve prices at auction, despite the city having suffered six coronavirus-related lockdowns since the start of last year.

In Armadale, house prices have climbed 24.7% over the past five years. The median price of homes in the downtown suburbs is $ 2.52 million, Domain data shows, while the median rent for a home is $ 698 per week.

Minogue has had a string of hits since the 1980s, beginning his music career with record company Mushroom and producers Stock Aitken Waterman.

His first success, Locomotion, topped the Australian charts for seven weeks and her most recent album, Disco, was released last year.

Kylie minogue
Kylie Minogue’s latest album, Disco. Photo: Supplied

Minogue’s successful musical career has seen her travel the world. She currently lives in one of London’s most exclusive apartment buildings, One Hyde Park.

She would have has a penthouse there, valued at $ 33.8 million.