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An exceptional opportunity awaits savvy investors looking to acquire this serviced apartment on a long-term lease. Positioned on Level four, the apartment is currently under a five-year lease to "The Kinson" hotel, with the potential for four additional five-year terms.
Nestled on St Kilda Road and meticulously maintained, this expansive and well-lit studio apartment promises a sought-after passive income. Boasting an open-plan design, flooded with natural light through floor-to-ceiling windows and sliding door leading to a South facing balcony. Equipped with heating/air-conditioning, the property also offers modern amenities featuring a contemporary tiled bathroom, built-in robes, and a secure entrance, this investment combines an ideal location with promising returns.
The onsite amenities include a gymnasium, smart car hire, bicycle hire, laundry facilities, 24/7 concierge services, and robust security. Positioned just minutes away from Melbourne's CBD, the Arts precinct, vibrant St Kilda, South Melbourne, Chapel Street, Albert Park Lake, and with convenient public transport at your doorstep, this property is poised for both convenience and growth.
NB : THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.
IMPORTANT INFORMATION:
RENT: $13,454 pa
($258 per week approx.)
INCREASE: Annual CPI capped at 2% (Between Market Reviews)
RETURN: 8.4% Gross
6.00% Nett
LEASE: Until May 2027
OPTIONS: Four further 5-Year options
TENANT (The Kinson) PAYS:
50% of Owners Corporation Admin: $2,035pa
Insurance
General maintenance
OWNER PAYS:
50% of Owners Corp Admin: $2,035 pa
Maintenance/Sinking Fund: $523 pa
Council Rates: $619 pa
Water Rates: $666 pa
Inspection can be arranged by private appointment.
For further details please contact:
Nick Walters of Kingsford Property - 0438 557 885
Although every care has been taken in the preparation of the above information, we stress particulars herein are for information only, and do not constitute representation by the Owner or the Agent.