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106/37-39 Station Road

Cheltenham VIC 3192

3
2
1
85 m²
Apartment
Currently for sale - view listing

Overview

INVESTMENT $807 p/week rent return:3 BEDROOM & CARPARK

THREE BEDROOM TWIN KEY apartment, short walk to Westfield Southland shopping centre, 300m from Cheltenham train station and a 5-minute drive to Mentone beach. The apartment consists of 3 bedrooms with built-in robes, 2 bathrooms, spacious lounge/dining area, stylish stainless-steel appliances, split system air-conditioning and 2 balconies. Lease details: Current rent: $807 per week / $41,988 pa Return: 7.99% Gross/ 7.19% Net Increases: Lease to 27/01/2026 plus 3 x 5-year options Rent increases: 4% annually except at market rent reviews. Next market rent review due in 2026. Net return is based on the listed outgoings and doesn't take into account any capital works or additional expenses associated with property ownership The twin-key configuration allows the apartment to be used as a separate two bedroom and studio- or a complete 3-bedroom apartment. Rare opportunity to secure a three bedroom - with very strong weekly returns and fantastic cash flow! Owner Outgoings: Council: $1090 pa Water: $ 800 pa Owners Corp Sinking Fund: $2296 pa Owners Corp Admin Fund: Paid by tenant All outgoings are approximate A serene Bayside retreat, Quest Cheltenham is nestled in the Victorian Sandbelt, adjacent to world-class golf courses and sandy beaches. Within walking distance are Westfield Southland and Cheltenham's local eateries. Enjoy our restaurant chargeback, delivery service, and close transit to the Mornington Peninsula. Nearby lie, Mentone Beach, Rickett's Point and convenient access to Black Rock's iconic Half Moon Bay. he information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs. The information contained has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.

Features

3 bedrooms
2 bathrooms
1 carspace
85 m² floor area
Apartment

Happy sellers in Cheltenham

89%
89% of sellers in Cheltenham reported that their sale price either exceeded or met their price expectations.

Cheltenham stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 62 reviews in Cheltenham over the last 12 months.

Local market activity for 3 bedroom apartments in Cheltenham

In the last 12 months, 11 three-bedroom apartments similar to 106/37-39 Station Road, have been sold.

This represents a 57% decrease in three-bedroom apartments sales when compared to the previous 12 months.

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