Sold $335,000 - Apartment, Unit/Apartment
FANTASTIC MANTRA APARTMENT INVESTMENT OPPORTUNITY!
1310/333 EXHIBITION STREET, Melbourne VIC 3000
1 Bedroom 1 Bathroom
Located in the Mantra on the Park, this delightful one bedroom serviced apartment offers investors a sustainable return and income with 3% annual increases.
Currently leased until 2035 on a 5 X 5 X 5 X 5 management lease, the rental income is calculated at $1823 per month as of 30th October including the 3% increase which occurs each October during the entire lease providing investors with a solid 6% net return with very minimal outgoings of approx. $1700 pa (no owner’s corporation fees payable by owners, these are paid for by Mantra) and this return will only increase further upwards. Rental reviews are conducted every five years and have always increased in past reviews.
Apartment 1310 is Situated on the 13th level and featuring a spacious 50 sqm floor plan plus a balcony with a light filled south-west and northerly aspect and good city views, this apartment is fully fitted out with furniture and appliances and consists of an open plan kitchen, living and dining area, good size bedroom, main bathroom off the bedroom which includes a built in laundry with washer and dryer.
Facilities include swimming pool and sauna and gymnasium.
Mantra on the Park is located just opposite the Exhibition Buildings and is in striking distance to the Melbourne theatre precinct, all the incredible restaurants in Little Bourke Street’s China Town, all of Melbourne’s main sporting venues as well as all the excitement of the CBD and is in constant demand all year round.
Mantra on the Park, Melbourne, is an apartment-style hotel in a great central CBD location with views from every private balcony overlooking the impressive city skyline.
There’s everything business and leisure travellers need for short and long-term stays, with all spacious One Bedroom, Two Bedroom and Three Bedroom Penthouse apartments being self-contained, along with the extra convenience of handy hotel services, such as room service from the hotel’s onsite restaurant, The Terrace Bar and Grill.
Relax in the sauna or indoor heated pool, or step outside for a short walk or drive to family-friendly parks and famous attractions like the Melbourne Zoo. There’s so much to explore in the CBD, known for its designer shopping, historic theatres, world-class entertainment and sporting venues, and renowned dining areas such as Lygon Street, South Bank and China Town.
At Mantra on the Park you can have the best of both worlds when it comes to Melbourne holiday accommodation, thanks to our self-contained apartments including everything you need for city living, coupled with the convenience of handy hotel services to make your stay all the more enjoyable. So not only do you have use of your fully-equipped kitchen and laundry, but you have the choice to also order room service.
With every apartment featuring your own private balcony, it’s easy to experience the vibe of city life. Step out and catch the views to the city skyline, especially on dusk when the city lights begin to twinkle and the buildings take on a whole new level of sophistication.
Unlike some serviced apartment investment properties, there is no ‘busy period’ with this apartment because this is Melbourne and with ‘something’ always happening whether it be the Melbourne Cup, the Grand Final, the Australian Open, the Comedy Festival, the Grand Prix or the Cricket, theatre shows, opera or whatever – it’s continually booked out all through the year which secures your investment even further as an asset for both you and the Mantra!
This is truly a perfect opportunity for investors to add to their portfolio and an ideal income stream for self-managed superannuation fund beneficiaries.
INSPECT AS ADVERTISED. CONTACT AGENT FOR FURTHER DETAILS.
Contact on 0422 060 234 / 0434 183 780.