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

Apartment 709 (Lot 9)

9 Balmoral Street, South Yarra



On offer here is a fully furnished one bedroom investment apartment with car park on title operated by QUEST APARTMENTS.

This Quest complex is located in the heart of South Yarra, in the midst of fashionable Chapel Street and Commercial Road, behind the Prahran Market and the myriad of fantastic restaurants and cafes that the precinct is known for.

Securely leased, the property offers a continuous income stream with substantially reduced outgoings and an impressive $290 pw rental return with CPI increase in 2011.

The apartment is leased to Quest and run as a serviced apartment hotel.

This apartment offers investors the security of a long term lease with a further option and minimal outgoings.

Owners can also stay up to 60 nights per year in their apartment (conditions apply)

Current Rent: $15,112 per annum ($1,259 pcm)

Return: 6.4%

Reviews: CPI increase in year three of each lease term.

Lease Term: Until July 2014

Options: 4 x 5 year

Outgoings: Owner pays Council and Water rates: $600 pa (Approx)

Tenant Quest – pays Owners Corporate fees, Insurance, Water usage and General Maintenance.

For further details please contact:

Nick Walters of Kingsford Property
0438 557 885 or (03) 9682 6222
[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.