HUGE 7% Gross Return!
Situated on level three and with the quiet Southerly aspect, is this recently re-carpeted and re-painted one bedroom apartment of approximately 36m2.
NB. THIS IS FOR THE ASTUTE INVESTOR ONLY – CANNOT BE USED FOR OWNER OCCUPATION
Comprising a functional kitchen, open plan dining and lounge room leading to a neat fully equipped bathroom plus an excellent private double bedroom.
Positioned in a prime Melbourne location at the top end of the CBD with major retail shops, restaurants, cafes and theatre precinct close at hand.
The apartment is presently leased to Comfort Hotels until 13th October 2027 with two further 10 year options thereafter.
This lease also offers “Owners Use” of 30 days per year. (Conditions apply)
IMPORTANT INFORMATION:
RENT: $16,074 pa
($309 per week approx.)
INCREASE: The lessor of CPI or 7% increases from the 3rd year of each lease term (Between Market Reviews)
RETURN: 7% Gross
(6.1% Nett)
LEASE: Until October 2027
OPTIONS: Two x 10 Year Terms
TENANT (Comfort Hotels) PAYS:
Owners Corp Administration fees
Water rates
Insurance
General maintenance
OWNER PAYS:
Council rates: $909.21 pa
Owners Corporation Maintenance fund: $1,182 pa
Inspection can be arranged by private appointment.
For further details please contact:
Nick Walters of Kingsford Property – 0438 557 885
[email protected]
Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent.