114/185 Lennox Street, Richmond VIC 3121

Premium 50m2 one bedroom serviced apartment benefiting from a long term lease, annual increases and substantially reduced outgoings.
Positioned high on Richmond Hill it boasts a stylish interior with high quality fixtures and fittings throughout and is offered in as new condition.
The CBD edge location is outstanding being amongst the cafes, restaurants and retail that the area is famous for just a short walk to the MCG or quick tram to the city.

NB THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.



RENT: $26,078 pa ($2,173 per month)

INCREASE: Annual 4% increase between market reviews (From 2024)

RETURN: 8.7% Gross
7.9% Net

LEASE: Until November 2024

OPTIONS: 4 X 5 years

TENANT (Adara) PAYS:
Owners corporation administration fees
Insurance
General maintenance
Water usage

OWNER PAYS:
Council rates: $704pa
Water rates: $554pa
Owners corporation maintenance fund: $1,142pa

Inspection is by private appointment.

For further details please contact Nick Walters
Kingsford Property - Melbourne's Serviced Apartment Specialists.
M: 0438 557 885
E: [email protected]

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