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Sold: East Melbourne VIC

Sold: East Melbourne VIC

2 Bedrooms 1 Bathrooms

Quest East Melbourne Property Investment

Here’s a great opportunity to secure this stunning apartment located in the ever popular and picturesque East Melbourne pocket, nestled between the MCG, Melbourne CBD, and cosmopolitan Bridge Road Richmond, the location speaks for itself. Sophisticated twin bed studio style, kitchenette facilities, split system heating/cooling and onsite laundry facilities.
The building boasts a stunning rooftop garden, with 360 degree views of the iconic MCG, city and surrounds.
Walk to Richmond’s shopping precinct, dine in Victoria Street, walking distance to Rod Laver Arena, Hisense Arena, MCG and AAMI Park. Trains, bus & tram all within 250 metres of the building.

Apartment Asking Price Bedrooms % Return Weekly Rent Return Annual Return
Lot 112 SOLD Twin Studio 6.5% $475 $24,746
Lot 4 SOLD Twin Studio 6.41% $474 $24,678

Current Rent: $475 per week ($24,746 per annum)
Next Rent Increase: 6th August 2016
Current Return: 6.5% Gross / Net 5.5%
Return after August Increase: 6.77% Gross / 5.78% Net
Lease Terms: Lease to 5/08/2017 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2017)

Approximate Owner Outgoings:
Council Rates: $1281 per annum
Water Rates: $1000 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $1500 per annum

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