Lot 36 9 Balmoral Street, South Yarra VIC 3141

60 DAYS OWNER USAGE!
DOUBLE STORY
2 Bed, 2 Bath + Balcony + Car park.
$505,000

RETURNING $631 PW- 6.50 % GROSS

Lot 36, 9 Balmoral Street, South Yarra VIC 3141


DOUBLE STORY IN THE HEART OF SOUTH YARRA!
Brilliantly located in the heart of South Yarra, and located within walking distance to Chapel Street, Prahran Market, and the St Kilda Road business district this double story apartment offers a panoply of vintage stores and boutiques as well as some of the city’s much-loved eateries and bars.
With Tram and train only a short stroll away, your moments from the innner city of Melbourne and Just 3km from the sporting arenas, Aquatic Centre, the Melbourne Grand Prix Circuit and Rod Laver Arena.

Situated in the heart of one of Melbourne's premier suburbs, this 2 bedroom, 2 bathroom double story apartment with a car park on title and up to 60 days owner usage (subject to terms and conditions - clause 9 of the lease) offers investors an opportunity to secure blue chip real estate while having the options to use for personal travel and stays.

Downstairs features an open plan living area consisting of family room, meals and kitchen area separate laundry and outdoor balcony.
Upstairs has 2 bedrooms and 2 bathrooms- the master complete with ensuite.

Split system heating and cooling, and secure carpark on title- An opportunity not to be missed!
Please see links in ad for floor and strata plans.
PLEASE NOTE SOME IMAGES MAY BE GENERIC AND NOT OF EXACT LOT.

Lease Details:
Current Rent $616 per week - $32,039 pa
Increasing to $634 per week - $33,000 in July 2023
Current Return: 6.34% Gross - 5.72%- Net
Increasing to 6.53% gross in July

Scheduled Rent Increases As Follows:
July 2023 + 3%- 33,000 - 6.53% gross

Lease Terms: Lease to 31/07/ 2025 with 7 x 5 yr options
Rent Reviews and Increases:
3% yearly - next market review is due July 2025.

**Net returns do not include future capital works or additional government taxes associated with property ownership

Approximate Owner Outgoings:
Council Rates : $1460 per annum
Water Rates: $880 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $806.00 per annum

Please note these outgoings are subject to change by the relevant authorities.

In accordance with Section 47AF of the Estate Agents Act 1980 please view the Statement of Information

Disclaimer. The information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs.
The information contained has been provided to me by the vendors or third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.