SOLD by Nick Walters of Kingsford Property - The Serviced Apartment Specialists
Apartment 731 (Lot 31)
9 Balmoral Street, South Yarra
$454,000 (Private Sale)
PLEASE NOTE: THIS APARTMENT IS FOR THE ASTUTE INVESTOR ONLY – NOT FOR OWNER OCCUPATION
Your fabulous two story THREE bedroom investment town house with car park awaits
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 $589 pw rental return with the next CPI increase in August 2012.
This apartment is leased to Quest until 2014, with further options thereafter, and run as a serviced apartment hotel. The apartment offers investors the security of a long term lease with a dedicated quality tenant.
Owners can also stay up to 60 nights per year in their apartment (conditions apply)
Current Rent: $30,665 per annum ($2,555 pcm)
Return: 6.75%
Reviews: CPI increases from commencement of year 3 of each term
Lease Term: Until Sept 2014
Options: 4 x 5 years
Outgoings: Owner pays Council and Water rates: $1,300 pa (Approx)
Sinking Fund: $300 pa (Approx)
Quest pays Owners Corporate Fees, Insurance, Water usage and General Maintenance.
For further details and to arrange a private inspection please contact the agent.
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.