238 FLINDERS STREET, Melbourne, Vic 3000

Sold: $180,000 (03-16-2012)

238 FLINDERS STREET, Melbourne, Vic 3000 3000
SOLD
  • hotel 0
  • hot_tub 1
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How's this for convenience! If you're looking for one of those little city studio units, close to transport and super-handy to everything, then this could be just what you're after.

Positioned on the 11th floor and featuring quite a nice view overlooking Federation Square, the Botanical Gardens and the Dandenong Mountains to the East, this 32 sqm studio apartment is fully furnished and also features a kitchenette, a separate bathroom, large hot water system, top notch security, built in wardrobes and privacy.

Currently leased until March at just over $1000 per month, you could have it either way, either as an investment or obtain vacant possession so you could move in a couple of months if you want.

Flinders Street Station right opposite (just near the corner of Swanston and Flinders) also close to Melbourne's most famous inconic pub - Young and Jackson, Federation Square, the Tennis Centre, publiuc transport going all directions, foot bridge just over the road which takes you to Southbank Promanade so if you work in Southbank this is about a 5 minutes walk across the Yarra!!

Very well proportioned floor plan and configuration. Good natural light and in excellent and immaculate condition.

Outgoings approximately $3000 pa.

If you require a clean, safe and secure city pad to work here during the week or as a weekender, then this is just perfect.

For the astute investors, this would easily rent for considerably more than its currently achieiving. We estimate that $285 per week would be quite achievable which would equate into a very healthy 8.2% return gross and 6.5% net return.

This building is an older style Art Deco but is not heritage listed. Formally the SEC Head Office, this building was refurbished as student accomodation and sold off the plan in 1999. The building's zoning has allowed for all types of buyers to purchase in here and it is not restricted to students.

Perspective purchasers are also advised that equity in another property is required by most banks due to recent policy changes to borrow on this building.