647/58 Franklin Street Melbourne VIC 3000

Parking / Car Space
13 m²
Sold

City central, Low Maintenance, High Yield investment, Secure long-term agreement

647/58 Franklin Street, Melbourne $35,000

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 $231.85 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 $231.85 = $2,782.20 p.a. GROSS
Less outgoings approx.. $1,000 (Owner Corporation Fees, Council and water Rates)
Net Income (approx. $1,782.20) at $35,000 asking price is 5.1%

BE QUICK or MISS OUT!
Richard Crane 0412 333 331