***SOLD*** This wonderful opportunity has arisen for an astute investor wanting to add to their portfolio or just starting in the property market. Currently let to January 2009 with a rental increase in February 2009 to $220pw, the gross rental return will be 6.77%pa from February 2009 and the net rental return will be approximately 5%pa. What an investment! Finance can be arranged up to 70% of the purchase price, subject to the lender’s terms and conditions.

Fully fitted and furnished and only a couple of years old, this dedicated student studio apartment is situated at Waverley Road’s tram terminus and shopping precinct. Access to Monash University is at the doorstep or travel to Melbourne University by tram. Comprising furniture and fittings including microwave and refrigerator, television, bed, table and chairs. Investors will be entitled to the usual depreciation allowances on these fixtures and fittings as well as their share of all the common facilities.

The near new building provides 43 student studio apartments over 2 floors of accommodation. The students have communal use of the roof top terrace and the comfortable common rooms. There are 5 commercial units on the ground floor.

The accommodation is managed by Student Housing Australia who source and manage all the student tenants. Students usually sign a normal 12 month tenancy agreement so you have security of income. The current rent is $891PCM and will rise to $956PCM in Feb 2009.

For other properties that Century 21 Murrumbeena has available, click HERE