502/47 Lonsdale Street, Melbourne, VIC, 3000

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Melbourne

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502/47 Lonsdale Street, Melbourne, VIC, 3000

$185,000 - $200,000

Apartment

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7 days on the market

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What's around 502/47 Lonsdale Street

Great Investment Opportunity - 8.5% yield

Positioned within the heart of Melbourne's CBD, this well-presented one-bedroom apartment offers an outstanding investment opportunity with the security of a long-term lease and strong rental returns. THIS IS A SERVICED APARTMENT, AND STRICTLY FOR INVESTMENT This slick 1 bedroom 1 bathroom apartment features a functional kitchen, open-plan living and dining area, central bathroom, and a generously sized bedroom with openable windows. Ideally located at the northern end of Melbourne's CBD, you'll enjoy immediate access to an array of cafes, restaurants, retail shopping, public transport and Melbourne's renowned theatre precinct. The apartment is securely leased to Comfort Hotels until 7 October 2027, with a further two 10-year options available under the lease. With minimal owner outgoings, a secure long-term tenant and an attractive return, this is an ideal set-and-forget investment. IMPORTANT INFORMATION RENT: $15,970.56 per annum RENT INCREASES: The lesser of CPI or 7%, commencing from the third year of each lease term (between market reviews). RETURN: 8.6% Gross LEASE: Until October 2027 OPTIONS: Two further 10-year terms TENANT (Comfort Hotels) PAYS: Owners Corporation administration fees Water rates Building insurance General maintenance OWNER PAYS : Council rates: $968 per annum Maintenance fund: $1,271 per annum Inspection is by private appointment. In preparing this material, every effort has been made to ensure the information provided is accurate and up to date. However, no responsibility is accepted and all liability is expressly disclaimed for any errors, omissions, inaccuracies or misstatements contained within this document. Prospective purchasers are encouraged to carry out their own investigations to verify the information provided. Buyers should also refer to the due diligence checklist available from Consumer Affairs Victoria to assist in their decision-making. A copy can be found at: http://www.consumer.vic.gov.au/duediligencechecklist