North Melbourne

ENTRY LEVEL INVESTMENT

An inner city investment opportunity presents itself with this 1st floor, studio apartment with own private courtyard.
With existing tenant, City Edge North Melbourne in a 5 year lease, which commenced on the 23rd July 2018. Also another two (2) further 5 year options that sit with the tenant. The rent is currently placed at $1254.34 per calendar month, or $289.46 per week with a CPI increases annually. Featuring fully functional kitchen with electric cooktop, range hood, sink and pantry. Own private Bathroom. Heating & cooling split system unit. Complex also features secure entrance, lift access, common lounge area, outdoor courtyard & laundry facilities.

This apartment has to be either used as a serviced apartment under the CITY EDGE North Melbourne banner, or leased as student accommodation, or you could have a child move in who is currently enrolled in school or tertiary education.

The Outgoings for the apartment are approximately:

Body Corp is $2,490pa
Council Rates - $311pa
Water is $666pa
RENT $289.46 pw