220/187 Lennox Street

Richmond VIC 3121

STYLISH ONE BEDROOM INVESTMENT APARTMENT ? 7.3% RETURN - $275,000
$275,000 ? FOR PRIVATE SALE PLEASE NOTE: THIS IS FOR THE ASTUTE INVESTOR ONLY ? NOT FOR OWNER OCCUPATION. SITUATED ON THE EASTERN SIDE OF THE COMPLEX AND ON THE SECOND LEVEL, THIS IS A SUPERB ONE BEDROOM APARTMENT OF 50 SQUARE METERS PRESENTLY LEASED TO THE QUEST APARTMENT GROUP. THIS BOUTIQUE BLOCK OF ONLY 64 SERVICED APARTMENTS IS SET IN THE HEART OF ONE OF MELBOURNE?S MOST SOUGHT AFTER SUBURBS; THE BUILDING IS ON RICHMOND HILL BOASTING A SHORT WALK TO THE VIBRANT BRIDGE RD AND IS ONLY MINUTES AWAY FROM THE MCG, ROD LAVER ARENA AND MELBOURNE?S CBD. NO VACANCIES, NO LEASING OR RENT COLLECTION FEES, NO OWNERS CORPORATE FEES NO GENERAL MAINTENANCE COSTS SECURELY LEASED TO THE QUEST GROUP UNTIL NOVEMBER 2015 WITH FURTHER OPTIONS THEREAFTER. CURRENT RENT: $20,139 PER ANNUM ($387 PER WEEK) (WITH ANNUAL RENTAL INCREASES OF 4%) RETURN: 7.3% OPTIONS: 4 X 5 YEAR OPTIONS OUTGOINGS: OWNER: COUNCIL AND WATER RATES: $1,160 PA (APPROX) MAINTENANCE FUND: $712 PA (APPROX) TENANT: BODY CORPORATE FEES, INSURANCE, GENERAL MAINTENANCE AND WATER USAGE FOR FURTHER ENQUIRES PLEASE CALL THE AGENT ALTHOUGH EVERY CARE HAS BEEN TAKEN IN THE PREPARATION OF THE ABOVE INFORMATION, WE STRESS PARTICULARS HEREIN ARE FOR INFORMATION ONLY, AND DO NOT CONSTITUTE REPRESENTATION BY THE OWNER OR THE AGENT.