Why we're obsessed with 109/154 Elgar Road, Box Hill South:
This modern one-bedroom apartment leases for $370 p/w, which is a gross rental yield of 6.87% calculated on $280,000. It also has the features tenants look for, including a split system in the lounge room, European appliances with a dishwasher, and a balcony for fresh air. It's a simple, well-equipped apartment that's easy to picture appealing to renters.
The bathroom has a freestanding shower, vanity and toilet. Secure underground car parking and a storage unit come with the apartment, and there's also a security basement. That kind of practical, secure extra is easy to overlook, but it's often what sets one rental apart from the next.
The location does a lot of the work. You're near the corner of Elgar Road and Riversdale Road, directly opposite Wattle Park. It's a short stroll to Deakin University and the Riversdale tram line, which gives direct access to Camberwell Junction. The CBD is only 19 minutes away.
