SOLD by Nick Walters of Kingsford Property - The Serviced Apartment SpecialistsT

Apartment 605 (Lot 608)

222 Russell Street, Melbourne

$199,500

GREAT ENTRY LEVEL INVESTMENT APARTMENT IN THIS BLUE CHIP DEVELOPMENT.

This is a very large fully furnished studio apartment of 42 square meters that also boasts a terrace of an impressive 13 square meters. Located at the top end of Melbourne in the Chinatown precinct, this brilliant east facing apartment is of the highest quality and offers individuals the opportunity to secure a rewarding and trouble free investment in one of Melbournes premier developments.

This serviced apartment is managed by the Mantra Group with an initial 10 year lease that commenced in November 2001.

The new owner will have no vacancies, no leasing or rent collection fees, no body corporate fees or general maintenance costs.

The “Mantra on Russell” is an outstanding property investment opportunity.

Current rent: $14,098 per annum ($1,174 pcm)
(Effective November 2008 with annual 3% increases until 2011)

Return: 7.1%

Options: 3 x 5 year options

Outgoings:
Owner: Council and Water Rates
$799 per annum (approximately)

Tenant: Body corporate fees, Insurance, General maintenance and Water usage

For further enquires, please call:

Nick Walters of Kingsford Property
0438 557 885 or (03) 9682 6222
nick@kingsfordproperty.com.au

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.