SOLD by Nick Walters of Kingsford Property - The Serviced Apartment Specialists
Apartment 710 (Lot 713)
222 Russell Street, Melbourne
$399,000
PLEASE NOTE: THIS APARTMENT IS FOR THE ASTUTE INVESTOR ONLY – IT IS NOT FOR OWNER OCCUPATION.
Leased to the Mantra Group, situated on the 7th floor and on the front of the building, this is a modern South facing one bedroom apartment of 65 square meters. Apart from the spacious bedroom, on offer here is a separate bathroom, laundry facilities and open plan kitchen, dining and lounge area leading to a 7 square meter South facing balcony. The building has an impressive pool and gym area, is in a fabulous Melbourne location in the heart of the China Town precinct of Melbourne, and also has a quality restaurant and bar attached to the building.
This apartment also has one secure car park on title.
Currently returning an impressive $476 PW with minimal outgoings and a 3% annual rental increase each November between market reviews.
This is an excellent opportunity to purchase this prime, blue chip property, in this highly regarded development.
This is a hassle free investment with No vacancies, No leasing or rent collection fees, No body corporate fees and No general maintenance costs to pay.
Securely leased to the Mantra Group until 2011 with further options.
Current rent: $24,788 per annum
Return: 6.2%
Options: 3 x 5 year options
Outgoings:
Owner: Council and water rates $1,485 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
[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.