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East Melbourne, VIC

East Melbourne, VIC

An opportunity to secure a beautiful twin studio apartment in the ever demanding “hot spot” of East Melbourne. 
Within walking distance to the MCG, Melbourne Tennis Centre, AAMI Stadium, Fitzroy Gardens, The Tan and the Melbourne CBD the apartment boasts a location that would be hard to beat..

The building also boasts a rare communal rooftop terrace with stunning 360 degree views of Melbourne CBD, Richmond & surrounds.

Spacious twin bed studio with kitchen, sitting space and inbuilt desk areas and storage.
Just undergone bathroom upgrades, with new timber vanities, tapware and shower hardware.

A beautiful property that displays heritage features such as sash windows and stunning exterior curved glazing and banded brickwork, typical of the art deco buildings within East Melbourne.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Statement of Information
104 $356,000 Avail 6.63% 5.36% $618.00 ($23,633 pa  Statement of Information

 

Lease Details:
Current Rent:      $454 per week ($23,633 per annum)
Current Return:   6.63% Gross / Net 5.36% Net

SET RENTAL INCREASES AS FOLLOWS
August 2020- + 4% increase=  $24,575 pa  ($472 per week)
August 2021- + 4% increase=  $25,559 pa  ($491 per week)
August 2022- Market Review

Lease Terms: Lease to 5th August 2022 with 3 x 5 yr options.
Rent Increases: 4% Increases yearly with market rent reviews every 5 years (next due 2022)

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