REDUCED FOR IMMEDIATE SALE.
COUNCIL & WATER RATES AND OC LEVIES ALL PAID BY HOTEL.
7.27% RENT RETURN
With a position that cannot be overlooked all with a rare lease with the tenant responsible for paying all Council rates, Water rates, Building insurance and Owners Corporation Admin Levies offering investors a strong 7.27% Gross - 6.95%- Net return.
No Management fees, no letting fees.
BATHROOM REFURBISHED IN 2019.
SET INCREASES UNTIL 2028!
This spacious 1 Bedroom inner city serviced apartment is superbly located in the legal and banking heartland of Melbourne.
Attracting both corporate long and short stay guests, together with a leisure market due to its fabulous location boasting a tram at your doorstep and only minutes from Crown Casino, Etihad Stadium, Southbank, Queen Victoria Market, The Arts Precinct and Bourke Street Mall Shopping.
Lease Details:
Current Rent: $433 per week -$22,551 pa
Current Return: 7.27% Gross - 6.95%- Net
Jan 2027 + 3% = $23,227 pw - 7.49%
Terms: Lease to 09/01/2028 with a further 3 x 5 year options.
This spacious inner city one bedroom apartment offers fully equipped kitchen featuring stainless steel appliances & dishwasher, and an open plan lounge and dining area. Large bedroom and full renovation to the main bathroom offering a walk in shower, vanity & toilet, and new carpet and paint to the living areas in 2019.
A concealed European laundry,and ducted heating and cooling throughout, the property offers investors a lucrative lease with the tenant paying Council, water and OC Admin levies for the life of the agreement.
A fantastic property with built in rental increases until 2028
Approximate Owner Outgoings:
Council Rates: PAID BY TENANT
Water Rates: PAID BY TENANT
OC Sinking Fund: $994 PER ANNUM.
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 agents 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.
