Sold $475,000 - Apartment, Unit/Apartment
SHORT OR LONG TERM STRATEGIC INVESTMENT!
1312/333 Exhibition Street, Melbourne Vic 3004
2 Bedroom 2 Bathroom
Floor area： 70 sqm
Balcony： 4 sqm
847 meters to CBD
539 meters to Parliament Station
Combining a two-way option for you, this cosy Mantra serviced apartment at Mantra on the Park currently offers a secure lease in place with a very convenient seven years remaining. You can also continue leasing with Mantra if you want or obtain vacant possession and do whatever you wish with it, live in it or lease it out privately. It’s your choice.
Featuring two bedrooms and measuring up at 70 sqm + a 4 sqm balcony, this apartment is situated on the 13th level and boasts a nice view of the Melbourne CBD with a westerly aspect.
And there’s quite a story to this location – right across from Australia’s first built World Heritage listed 19th century Exhibition Building and beautiful Carlton Gardens.
Fully refurbished just recently, this apartment is fitted out with both contemporary furniture and appliances and is the perfect investment for those wishing to achieve long term capital growth and is ideally structured for superannuation self-funded investment.
Currently leased at a generous $2380 per month with another 3% annual rental income increase occurring this October which will escalate the income to approximately $2451 per month and the only outgoings you pay are council and water rates which amount to around $2500pa. The current lease runs over the remaining terms of the lease until 2025.
Net income for next 12 months (until and including August 2019) will be $26,845 offering investors a solid 5.5% net return. This return should also increase over the remainder of the current lease with the annual 3% income increase by approximately 21%.
The real benefits of this apartment in terms of capital gain will be that of a substantial nature at the conclusion of the entire lease term in 7 years when owner occupational status becomes available which obviously increases the overall value significantly.
However, Mantra will be happy to sign up a new long term lease if this is what you would prefer.
Furthermore, all current Mantra apartment investors share in-house owner entitlements and use of not only their own apartment, but any of the 55 Mantra locations in Australia, New Zealand and Indonesia.
INSPECT AS ADVERTISED.
Contact on 0422 060 234 / 0434 183 780.
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