201/185-191 Lennox Street, Richmond, VIC 3121
Over 7% net yield! Super-sized investor's dream in the heart of Richmond
Immaculately presented, this massive, executive-style apartment in a low-rise, boutique block is perfectly located on one of Richmond's most well-known street. Situated moments from Bridge Road and the Epworth Hospital, enjoy a plethora of shopping and entertainment delights. Part of the Adara serviced apartments, this value-packed property is an investment dream.
Comprising a massive open plan living area opening out to a large South-Western facing balcony, enjoy unsurpassed views from your private perch. Boasting a stylish kitchen with quality electric stainless steel appliances, a generous bedroom with built-in robes and a sparkling modern bathroom and concealed laundry facilities. This property will tick all your boxes, ideal for investors who are looking for consistent and reliable returns.
Additional features include reverse-cycle air-conditioning, intercom, attentive building concierge and contemporary furnishings.
- Leased till 25th Nov 2020 with 4 further terms of 5 years each option.
- Current Rent is approx. $515 per week, $2,236.96 per month or $26,843.52 per annum. (7.7% gross yield or 7% net)
- Rent increase of 4% annually with market review at the start of each term.
- Next rental increase due 25th November 2019 to approx. $535.40 per week or 2,326.44 per month. (8.0% gross yield or 7.3% net)
Water rates: $665.50 per current year.
Council rates: $919.92 per current year.
Owner's Corporation Admin levies: Paid by Tenant
Owner's Corporation Maintenance levies: $633.64 per current year.
Contact us for further info and arrange an inspection today!
METHOD OF SALE
201/185-191 Lennox Street
Richmond VIC 3121
Tze ChanAn honest, highly driven and enthusiastic agent, Tze Chan is an asset to those looking to sell their property for a premium price. With over seven years of experience in residential and commercial property sales, Tze brings a valuable skill set to his role as Sales and Business Development Manager at Network Pacific Real Estate. As Tze puts it “I get great satisfaction from helping clients achieve their property goals and ensuring every vendor and purchaser receives constant feedback throughout the sales process.” Fluent in Chinese (Mandarin and Cantonese) and Malay, Tze’s formula for success is built upon his exceptional communication and interpersonal skills, local market knowledge and in depth understanding of the sales process. Drawn to Network Pacific for its innovative processes and ongoing education and training, Tze has proven himself as an outstanding sales agent and experienced negotiator. Tze has a Bachelor’s Degree in Business Studies from the University of Technology Sydney and is a REIV member. Collapse
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