1214/8 Dorcas Street, Southbank, Vic 3006

*INVESTORS ONLY*
An open plan one bedroom + study alcove apartment, with smart modern kitchen, stainless steel appliances, laundry facilities, separate bathroom, and reverse cycle heating/ cooling.
Outdoor balcony, underground car park on title and onsite gym it ticks all the boxes.
The apartment also boasts a fantastic location and is within walking distance to the South Melbourne Market, Albert Park Lake, Royal Botanic Gardens, the Melbourne Arts Precinct, Federation Square, Southbank Promenade and of course all the local cafes, bars and restaurants.

Lease Details:

Current Rent: $397 per week ($20,653 per annum) *As of 25/03/16
Next Rent Increase: 25/3/2017
Current Return: 6.45% Gross / Net 5.7% *As of 25/03/16
Lease Terms: Lease to 24/09/2019 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2019)

Approximate Owner Outgoings:

Council Rates: $1166 p/a approx
Water Rates: $672 p/a approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $539 p/a approx