1 BEDROOM, 1 BATHROOM + CAR PARK | 6.84% GROSS / 5.64% NET | 30 DAYS OWNER USAGE
PRIME SOUTH YARRA LOCATION
Located within walking distance of Chapel Street, Prahran Market and some of Melbourne's finest eateries and bars, this neat-as-a-pin investment ticks the boxes and offers an entry-level opportunity in South Yarra.
Within mere kilometres of Melbourne's sporting heart, the property is close to the Melbourne Sports and Aquatic Centre, Albert Park and the Grand Prix Circuit, Rod Laver Arena and the MCG.
With new carpet and an updated kitchen, the apartment offers a spacious master bedroom with king-size bed and an open-plan living zone.
30 DAYS OWNER USAGE
This property has 30 days owner usage, providing the owner with the opportunity to personally use their South Yarra investment for up to 30 days per annum.
PROPERTY DETAILS
1 Bedroom
1 Bathroom
Outdoor Terrace Area
Car Park on Title
Price: $289,000
Current Rent: $19,776 p.a. / $380 per week
Gross Return: 6.84%
Net Return: 5.64%
SCHEDULED RENT INCREASES
July 2027: + 3% = $20,369 p.a. 7.04% Gross
July 2028: + 3% = $20,980 p.a. 7.25% Gross
Lease: To July 2029 with 5 x 5-year options remaining.
Net returns do not include future capital works or additional government taxes associated with property ownership.
APPROXIMATE OWNER OUTGOINGS
Council Rates: $1,350 p.a.
Water Rates: $800 p.a.
Owners Corporation Sinking Fund: $1,300 p.a.
Total Approximate Outgoings: $3,450 p.a.
Please note these outgoings are subject to change by the relevant authorities.
Please note the bathroom will be due for an upgrade during this term of the lease.
SOUTH YARRA INVESTMENT
Combining a current rental return of $19,776 per annum, 6.84% gross and 5.64% net return, scheduled 3% rental increases and 5 x 5-year lease options remaining, this property presents investors with an opportunity to secure a well-positioned South Yarra investment.
Adding further appeal is the 30 days owner usage, providing the owner with the opportunity to personally use the property for up to 30 days per annum.
With new carpet, an updated kitchen, outdoor terrace area and car park on title, this is an inner-Melbourne investment opportunity not to be missed.
BE QUICK TO SECURE THIS SOUTH YARRA INVESTMENT $380 PW RENT WITH SCHEDULED 3% INCREASES + 30 DAYS OWNER USAGE.
For more information, please contact:
Mandy Fountain
Director & Licensed Real Estate Agent
Ph: 0408 103 010
Annie Strafford
Sales Agent
Ph: 0406 322 888
Mandy Fountain specialises in Serviced Apartment Sales across Australia, with a sound understanding of lease structures and tenant and owner obligations.
DISCLAIMER
This information is provided for general purposes only and does not constitute legal, financial or investment advice. Prospective purchasers should seek independent professional advice to determine suitability.
All information has been supplied by vendors or third parties. Outgoings are provided as at the date of sale but may change without notice or the agent's knowledge. No warranty is given as to the accuracy or completeness of the information, and no liability is accepted.
Interested parties must conduct their own due diligence and rely on their own enquiries.
