This Quest apartment presents a straightforward investment in a location that continues to attract strong demand. Positioned on Balmoral Street, right on the edge of Prahran and South Yarra, it is surrounded by everything that draws people to the area including cafés, restaurants, shopping, cinemas, parks and excellent public transport, all within easy walking distance.
The apartment is securely leased to Quest Apartments and operates as a serviced apartment, providing investors with a stable and low-maintenance income stream. Owners also have the flexibility to use the apartment for up to 60 nights per year, subject to the lease conditions.
Current rental income is $19,513 per annum (approximately $1,270 per month).
Lease structure: 6 x 5 year terms
Rent reviews: CPI increase in the third year of each lease term
Outgoings paid by owner: Council rates and water rates
Outgoings paid by tenant: Owners corporation fees, insurance, water usage and general maintenance.
