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Lot 8, South Yarra, VIC

Lot 8, South Yarra, VIC

1 Bedrooms 1 Bathrooms

A rare and unique opportunity to secure a wonderful one bedroom apartment with car park on title 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
8 $296,800 SOLD 5.90% 5.06% $337.00 ($17,571 p/a  CLICK HERE

Current Rent: $337 per week -$17,571 p/a
Current Return:  5.90% Gross –  5.06%- Net

Scheduled rent increases as follows: 
$18,098-  July 2021-   6.15% Gross
$18, 641- July 2022-   6.40% gross
$19,200- July 2023-   6.65% gross
Market review- 2024.

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

Apartment in the heart of Melbourne’s most sought after shopping precinct, cafes and bars.
Featuring spacious lounge and dining area opening to front courtyard. Fully equipped kitchen and 1 bedroom with built in robes and seperate bathroom.  .

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

The landlord has  paid for the refurbishments below:

Paid.   Carpet-      $2413.40
Paid-   Curtains      $577.00
Paid-    Tile Regrout  $1245.00
Paid-     Reglaze Bath  $ 700.00
Paid- Year 1 ( $977)       Painting $977 will be deduced each further years 2, 3, 4 and  5 for re-painting


Approximate Owner Outgoings:
Council Rates:                  $1195  per annum
Water Rates:                     $830   per annum
OC Sinking Fund:            $499    per annum

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