642/58 Franklin Street Melbourne VIC 3000

Parking / Car Space
13 m²
Sold

Secure low maintenance high yielding investment (4.74% NET)

Secure long term tenancy
Great city location
Affordable real estate investment

Situated close to Victoria Market, RMIT and in an area undergoing huge hi-density re-development.

This strata-titled car space is licenced to CBDPark Pty Ltd, the car parking operator for the next 3 years from the 1st of September 2018 with 2 further 3 year options.

Currently returning $236.49 per calendar month, with the operator paying the congestion levy as part of the licence agreement.

Key Benefits:
No Vacancy (100% let for the duration of the agreement)
No Lease arrears (paid monthly from the operator)
No Management fees
No letting fees every year
No advertising costs
Annual rent increases
Peace of mind
Low/No maintenance fees (no painting/carpeting/plumbing costs here)

Financials
12 x $236.49 = $2,837.88 p.a. GROSS
Less outgoings approx.. $985 (Owner Corporation Fees, Council and water Rates)
Net Income (approx. $1,852.88) at $34,000 asking price is 5.45%

BE QUICK or MISS OUT!
Richard Crane 0412 333 331