SOLD by Nick Walters of Kingsford Property - The Serviced Apartment Specialists
Apartment 739 (Lot 39)
9 Balmoral Street, South Yarra
$366,000 (Private Sale)
THIS IS FOR THE ASTUTE INVESTOR ONLY – NOT FOR OWNER OCCUPATION
On offer here is a two story, two bedroom, two bathroom investment apartment with car park on title…
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 a massive $457 pw rental return.
This apartment is leased to Quest and run as a serviced apartment hotel.
The apartment offers investors the security of a long term lease with further options and minimal outgoings.
Owners can also stay up to 60 nights per year in their apartment (conditions apply)
Current Rent: $23,822 per annum ($1,985 pcm)
Return: 6.5%
Reviews: CPI increase July 2011
(Paid with adjustments in September)
Lease Term: Until Sept 2014
Options: 4 x 5 year
Outgoings: Owner pays – Council and Water Rates: $1,768 pa (Approx)
– Sinking Fund: $269 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]