24/101 George Street, East Melbourne VIC 3002

Light filled top floor one bedroom apartment of approximately 30m2 in small solid brick building in leafy George Street with open plan kitchen and living area, separate bedroom & bathroom. Reverse Cycle Heating/Cooling.

With this hassle free ‘set and forget’ investment you don’t need to worry about finding tenants or missing out on rental income in between leases, courtesy of the Secure long term lease to Knightsbridge Serviced Apartments until 4th May 2035 (current 5 year term expires 4th May 2020, plus a further 3 x 5 year options).

Current Rental is $1,242.92 per month, with automatic CPI rental increases annually in May, with market reviews between 5 year terms.

Minimal Outoings payable by owner:
-Owners Corp Sinking Fund only $360pa
-Water rates approx $850pa
-Council rates $730pa
-Tenant Pays general maintenance, water consumption costs and owners corporation admin fund fees.

Excellent investment for self managed super funds or investors looking for a positive cash flow investment in a blue chip location with exciting long term capital growth prospects.

Rare opportunity to purchase the only one bedroom apartment in this highly sought after building!

Inspection by appointment