118/185-187 Lennox Street, Richmond VIC 3121

Situated on the Eastern side of the complex and on the first level, this is a superb one bedroom apartment of 50 square meters presently leased to the Adara Apartment Group (Formerly Quest) and returning an impressive $412 per week.

This boutique block of only 64 serviced apartments is set in the heart of one of Melbournes most sought after suburbs and is just around the corner from vibrant Bridge Rd and only minutes away from the MCG, Rod Laver Arena and Melbournes CBD.

No Owners Corporate fees
No General Maintenance costs
No Leasing or rent collection fees
No Vacancies

Securely leased to the Adara Group until November 2015 with further options thereafter.

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

Current rent: $21,434 per annum
(Annual rental increases of 4% between market reviews)

Return: 7.4%

Options: 5 x 5 year options

Outgoings:
Owner: Council rates: $1,108 pa (Approx)
Water rates: $557 pa (Approx)
Maintenance fund: $589 pa (Approx)

Tenant: Owners Corporation fees, insurance, general maintenance and water usage


For further enquires, please call Nick Walters at Kingsford Property - the Serviced Apartment Specialists.


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.