505/651 Chapel Street

South Yarra VIC 3141

HUGE 7.9% RETURN - 54 SQM 1 BEDROOM INVESTMENT APT ON CHAPEL ST
APT 505 651 CHAPEL ST, SOUTH YARRA $304,500 THIS IS FOR THE ASTUTE INVESTOR ONLY ? NOT FOR OWNER OCCUPATION THIS IS A SPACIOUS FULLY FURNISHED ONE BEDROOM APARTMENT IN ONE OF QUESTS FINEST PROPERTIES SITUATED IN THE HEART OF TRENDY SOUTH YARRA ON CHAPEL STREET. A WELCOMING ENTRANCE LEADS PAST THE KITCHEN AND OPENS OUT INTO A ROOMY DINING AND LOUNGE AREA WITH SLIDING DOORS LEADING TO THE LARGE NORTH FACING BALCONY. THE GOOD SIZED BEDROOM OFFERS NATURAL LIGHT AND BUILT IN ROBES. A FULLY EQUIPPED BATHROOM WITH LAUNDRY FACILITIES, REVERSE CYCLE AIR CONDITIONING AND SECURITY ENTRANCE COMPLETES THE PICTURE. ONLY 3 KILOMETRES FROM MELBOURNE'S CBD AND CONVENIENTLY LOCATED WITHIN MINUTES WALK TO CHAPEL STREET'S FASHIONABLE SHOPPING AND RESTAURANTS IT IS ALSO WITHIN CLOSE PROXIMITY TO MELBOURNE'S SPORTS AND ENTERTAINMENT VENUES. THIS IS A BLUE CHIP OPPORTUNITY TO INVEST IN A QUALITY SOUTH YARRA APARTMENT WITH LONG TERM LEASE ATTACHED. LEASED TO THE QUEST GROUP UNTIL MAY 2015 WITH FURTHER OPTIONS. CURRENT RENT: $24,065 PER ANNUM ($462 PER WEEK) (WITH ANNUAL INCREASES BETWEEN MARKET REVIEWS) RETURN: 7.9 % OPTIONS: 2 X 5 YEAR TENANT PAYS: BODY CORPORATE FEES, INSURANCE, GENERAL MAINTENANCE AND WATER USAGE OWNER PAYS: COUNCIL RATES: $594 PA (APPROX) SINKING FUND: $2,679 PA (APPROX) MANAGEMENT/ADMIN FEE: $1,377 PA (APPROX) 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.