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South Yarra, VIC

South Yarra, VIC

3 Bedrooms 2 Bathrooms

A rare and unique opportunity to secure a wonderful THREE bedroom, TWO bathroom double storey apartment in the heart of South Yarra.
Located within a secured cul-de-sac within walking distance to Prahran’s iconic gourmet market, designer boutiques, and endless lounges, bars and cafes that occupy both Chapel Street and Toorak Road, it boasts an unparalleled premium location.

With an owner usage clause, allowing up to 60 days occupation per annum, a condition that’s few and far between within the Quest lease, making this offering very attractive to investors seeking size, location and usage.
**** Please refer to pages 30 and 31 of the lease for terms and conditions regarding owner usage*****

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Statement of Information
35 $599,500 Under Contract 5.92% 5.44% $683.00 ($35,527 p/a  CLICK HERE

Current Rent: $683 per week -$35,527 pa
Current Return:  5.92% Gross –  5.44%- Net

Scheduled rent increases as follows:

July 2021 + 3%=   $36,593-     6.09% gross return
July 2022 + 3%=   $37,691-     6.28% gross return
July 2023 + 3%=    $38,821-    6.46% gross return
July 2024-   Market Review.

**Please note;  gross and net yields do not include future refurbishment costs.

Double Storey Townhouse style apartment in the heart of Melbourne’s most sought after shopping precinct, cafes and bars.
Featuring large lounge and dining area with balcony, fully equipped kitchen and separate laundry with 3 bedrooms, ensuite and main bathroom located upstairs.

With car space on title, the property is situated within a secure gated cul-de-sac.

*** PLEASE NOTE***
The property will commence refurbishments shortly.  For the scope full of works please
click here:  REFURBISHMENT SCOPE

Approximate Owner Outgoings:
Council Rates:                  $1796  per annum
Water Rates:                     $587   per annum
OC Sinking Fund:            $499.50 per annum

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