103/100 Exhibition Street, Melbourne VIC 3000

With a location at the Paris End of Melbourne and offering investors a superb opportunity in the 4.5 star 'Mantra 100 Exhibition' complex, this bright, spacious, and well-presented one bedroom apartment is an excellent find. With a secure long term lease and enjoying a high yield return of 6%, this property is near bars & retail outlets, Chinatown eateries & Parliament Station.

Accommodation: Featuring a convenient first floor position, this excellent apartment enjoys an expansive central lounge and dining zone with tall windows, stylish kitchen with an induction Fisher & Paykel cooktop, fridge, microwave, and nearby dining table for easy meals day and night, impressive bathroom, sizeable bedroom with built-in robe storage and a sliding door, and a handy European laundry.

Features: Reverse cycle heating and cooling, secure entry, Mantra facilities include a 24-hour concierge, internet kiosk, daily housekeeping, laundry service, and much more.

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

As part of the lease terms, owners DO NOT pay Owners Corporation Fees, Council Rates, Water Rates, Insurance or General Maintenance.

Lease expires on 05/03/18 with a further 2 x 5 years option
Rent: $25,288.44 pa ($2,107.37 per month)
Review: 4% annual increases between market reviews
Return: 6%
Annual Owner Outgoings: Sinking Fund $510 per quarter (approx.)

MEDIAN HOUSE OR UNIT PRICE FOR THE SUBURB: $337,500
INDICATIVE SELLING PRICE: $380,000 - $388,000

COMPARABLE SALE 1: 1411/222 Russell St, Melbourne. SOLD $405,000- 01/06/2017- 1 Bed, 1 Bath, 0 Car.
COMPARABLE SALE 2: 1805/27 Little Collins St, Melbourne. SOLD $395,000- 27/04/2017- 1 Bed, 1 Bath, 0 Car.
COMPARABLE SALE 3: 37/187 Collins St, Melbourne. SOLD $360,000- 08/03/2017- 1 bed, 1 Bath, 0 Car.