507/471 Little Bourke Street, Melbourne, VIC, 3000

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Melbourne

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507/471 Little Bourke Street, Melbourne, VIC, 3000

45 m²

Apartment

•

30+ days on the market

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Inspection times

Inspections are by appointment only.

What's around 507/471 Little Bourke Street

8.8% RETURN - NORTH FACING INVESTMENT APARTMENT...

Situated on the fifth floor and on the preferred Northern side on the front of the building, this is an oversized Studio apartment of approximately 45 square meters with open plan kitchen, dining and lounge area. In addition to this, there is a large bedroom area with mirrored robes and compact bathroom .The property offers a top floor gym and sauna, good security, a quality restaurant and bar situated just off the lobby, and a fantastic Melbourne location near the heart of the legal precinct. The apartment is leased to Panache Hotel Group (PHG) with the lease running until March 2029, with four further 5-year options thereafter. NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION. IMPORTANT INFORMATION: RENT: $27,326 pa (Effective April 2026) ($521 per week approx) INCREASE: Annual 3% between Market Reviews. (Market Reviews every 2.5 years) RETURN: 8:8% Gross (7.5% Nett) LEASE: Until March 2029 OPTIONS: Four Further 5-Year Options TENANT (PHG) PAYS: Owners Corporation Admin Insurance General maintenance ESTIMATED OWNER'S OUTGOINGS: O C Maintenance Fee: $1,650 pa Council Rates: $1,135 pa Water Rates: $984 pa Inspection is by private appointment. For further details please contact: Nick Walters of Kingsford Property - 0438 557 885 Nick@kingsfordproperty.com.au Disclaimer: Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent. This information 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.