Infused with impeccable style, these sleek one bedroom apartments set the bar high for affordability, sunlit space and lifestyle appeal in the heart of South Yarra. Spacious open-plan living and dining sits alongside a luxurious bathroom, European laundry, your own private balcony and a streamlined kitchen with stone benchtops, mirrored splashbacks and quality Miele stainless steel appliances including gas and a full-sized dishwasher.
Additional features include security entrance, NBN, reverse-cycle heating/cooling
Premium resort-inspired amenities with amazing panoramic city views, and offering residents exclusive use of a fully equipped rooftop gym, heated swimming pool, a sauna, lounge function centre and BBQ terraces for entertaining in numbers. This is millionaire living at bargain prices!
At current rents investors can expect around a 6% return on purchase price. Rents for apartments across have risen 17% over the past 12 months (August 2021 to July 2022) and with vacancy rates falling down to 2.1% from the high of 9.3% just 6 months ago, rents are expected to continue to escalate.
Within 24 months it is likely that rental returns at the current discounted prices could exceed 7% to 8%. These kind of rent returns have not been seen for decades.
Only four kilometres from the city, South Yarra has been one of Melbourne’s most affluent suburbs since the 1840s.
No matter whether you’re after a coffee to go or sophisticated sit-down dinner, there are several hundred dining options, bars and cafés to choose from in South Yarra.
There are parks and gardens galore, and transport options abound.
The apartments are within walking distance to the Royal Botanic Gardens, Chapel Street, Toorak Road and many trendy cafe’s, restaurants and all amenities. Train, bus and tram is on your doorstep.
Households in South Yarra are primarily childless couples and pre-Covid approx. half of all residents were paying more than $450 pw in rent. In general, people in South Yarra work in a professional occupation. In 2021, average household income was $2,603 per week, meaning that rental payments up to $780 per week should be able to be absorbed before any rental stress occurs.
These hand-picked apartments were selected for their current affordability, and the substantial potential discounts available for those able to move quickly. The potential buyer will engage leading international realtor, Michael Bentley, to act for them in the buying process.
Michael will find, select, research and then negotiate with the seller’s agent with the aim being to achieve a successful purchase price around 20% BELOW the original selling prices 9 years ago.
And around 60% LESS than current new apartments.
And substantially below current construction cost.
Effectively, buyers will be buying at prices at 2008 levels.
In addition, the target initial rental yield will be over 6%, with the aim to get it up to 8% within 18-24 months.
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