31/502 Princes Highway, Narre Warren, VIC, 3805

SoldJun 6, 2025

31/502 Princes Highway, Narre Warren, VIC, 3805

$320,000

Apartment

•

30+ days on the market

Sold: Jun 6, 2025

What's around 31/502 Princes Highway

Secured Serviced Apartment Investment Opportunity

Investor Only - No Owner Occupiers - 7.92% Gross Return - 2 Bedroom, 1 Bathroom, Serviced Apartment 16/504 PRINCES HIGHWAY, NARRE WARREN Summary: Type: 2 Bed, 1 Bath Serviced Apartment with Parking Tenant: Quest Serviced Apartment Hotel Monthly Rent: $2,045.03 Outgoings: Owners Corporation Maintenance Fund: $319.63 per quarter (Owner's Contribution) All other outgoings paid by tenant Rent Increase: 4% in July 2024 Market Rent Review: Scheduled for 2025 Lease Terms: Further 3 terms of 5 years, next term commencing in 2025 About Quest Serviced Apartment Hotel: Quest is a leading provider of serviced apartment accommodation, offering spacious and comfortable living spaces for short and long-term stays. With a strong reputation for quality service and hospitality, Quest attracts both leisure and business travellers, ensuring consistent rental income for property owners. About Narre Warren: Narre Warren is a vibrant suburb known for its family-friendly environment, excellent amenities, and convenient access to transportation. Residents enjoy proximity to shopping centres, schools, parks, and recreational facilities, making it a highly sought-after location for investors. Property Features: This spacious 2-bedroom serviced apartment offers modern living with convenience at your doorstep. With Quest Serviced Apartment Hotel as the tenant, investors can enjoy hassle-free ownership and a reliable rental income stream. Why Invest: Established Tenant: Quest Serviced Apartment Hotel ensures stable rental income. Convenience: Close to amenities, schools, parks, and public transport. Future Growth: Rent increase and market rent review offer potential for increased returns. Long-Term Lease: Further lease terms provide security and peace of mind for investors.