508/471 Little Bourke Street, Melbourne, VIC, 3000

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Melbourne

For Sale

508/471 Little Bourke Street, Melbourne, VIC, 3000

$349,000 to $359,000

Apartment

•

10 days on the market

Inspection times

Inspections are by appointment only.

What's around 508/471 Little Bourke Street

MEGA 7.8% NET RETURN WITH LONG TERM TENANT

Investors Dream! Fantastic Positive Cash Flow Opportunity 7.8% Net Return! Facing north and overlooking Little Bourke St in the heart of the legal precinct, this very spacious 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, oversized bathroom with separate shower and bath, generous 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 admin fees - paid by tenant OC Maintenance fees - paid by owner $2,500pa Council rates - paid by owner $1,481pa Water rates - paid by owner $850pa (approx) Water consumption - paid by tenant total outgoings = $4,831pa Net rent = $27,636.80 (circa 7.8% Net Return!!) The building has a gym, sauna, lobby/reception, and an excellent restaurant & bar. Inspect by Private Appointment