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508/471 Little Bourke Street

Melbourne VIC 3000

1
1
72 m²
Apartment
Currently for sale - view listing

Overview

Positive Cash Flow Opportunity 8.2% Net Return!

Who needs negative gearing when you can have positive gearing! Facing north and overlooking Little Bourke St in the heart of the legal precinct, this very spacious approx 72m2 apartment is securely leased until 2029 to Panache Hotel Group, with 4 x 5 year options taking the total potential lease term out to 2049. The apartment features an entry hall, very genersous bathroom with separate shower and bath, spacious and light filled open plan kitchen/living/dining area, and very large master bedroom with BIR. Annual Rental = $32,467.80 with annual 3% increases (and market review each 2.5 years) Annual outgoings: OC Maintenance fees - paid by owner $1,100pa Council rates - paid by owner $1,481pa Water rates - paid by owner $850pa (approx) total outgoings payable by owner = $3,431pa Net rent (after outgoings) = $29,036.80 (circa 8.2% Net Return!!) The OC admin fees ($9,366pa) are payable by the tenant The building has a gym, sauna, lobby/reception, and an excellent restaurant & bar. Set and Forget Long Term Investment. Great for self managed super funds or an astute investor looking to build a positive cash flow portfolio and pay down debt fast for a financially free future Apartments of this size and calibre with an 8%+ net return don't come along often Inspect by Private Appointment

Features

1 bedroom
1 bathroom
72 m² floor area
Apartment

Property history for 508/471 Little Bourke Street

2023
Sold
$345,000
07 May 2023 by Ofer Rotkopf, of Pagan Real Estate

Happy sellers in Melbourne

83%
83% of sellers in Melbourne reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 129 reviews in Melbourne over the last 12 months.

Local market activity for 1 bedroom apartments in Melbourne

In the last 12 months, 602 one-bedroom apartments similar to 508/471 Little Bourke Street, have been sold.

This represents a 14% increase in one-bedroom apartments sales when compared to the previous 12 months.

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