Secure long term with tenant who pays ALL outgoings!
4.4% NET return on Investment and a 100% Occupancy!
Affordable:
This affordable entry level investment is ideal for your Superannuation, Investment diversity or affordable first time/entry level property investor.
Blue chip East Melbourne location within the medical and hospital precinct. Parking in this area is limited and highly sought-after location, and super close to the MCG and Melbourne sporting precinct.
Secure:
Secure longer-term lease with Care Park Pty Ltd, one of Australasia's largest car park operators. Current lease expires 18th of April 2025.
Strong Income:
The current income is for each space $218.94 per calendar month (excl GST) or $2,627.28 per annum, with annual rent adjustments or reviews. Currently showing a 4.4% NET (Tenant pays all outgoings) return on investment at the asking price.
Low Maintenance Investment:
As this car park is attached to a secure long term lease the outgoings (council rates, owner corporation fees and water rates and congestion levy) are the responsibility of the Lessee and therefore this is a low maintenance investment offering a NET return on investment.
No Vacancy, No Maintenance, No Letting Fees, No Advertising Costs, No Council Rates, No Owner Corporation Fees, No Congestion Levy and No Management Fees.
No Worries for the Life of the Lease (expires April 2025, lease commenced April 2000), strong likelihood of continuance option.
National Tenant: Care Park Pty Ltd
Sit back and relax with a steady stream of income without any maintenance requests from tenants. Be quick, don't walk, run before this unique opportunity is gone.
Dimensions:
4.90m x 2.60m = 12.74m2
Clearance 2.10
Access 24 hours a day, 7 Days a week, 365 days a year
For further details please contact Richard Crane on 0412 333 331
