FOR SALE
$350,000 - $380,000

62/172 William Street
Melbourne VIC 3000

Bedrooms: 2
Bathrooms: 1
Car spaces: -
Floor area: 72m2
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AFFORDABLE INVESTMENT CASH COW 6.5% YIELD

INSPECT VIA APPOINTMENT
Affordable investment with secure rental income of $22,947 PA + 3% annual increase, this apartment represents long term yield stability. An excellent opportunity to add to your portfolio in the renewed CBD precinct.
Securely leased to an established hotel operator, The Quest, this well-maintained apartment is currently on the second year of a 5-year lease with two (2) further options of five (5) years each.
The tenant pays for OC admin fees, council and water rates.
Well located in the Central Business Precinct, the apartment features spacious open plan living, quality fitting and fixtures, modern bathroom, heating, and cooling.
Public transport is at the door, providing exceptional access to all areas of the city, and walking distance to Crown, Marvel Stadium, Southbank, Queen Victoria Market, The Arts Precinct and Bourke Street Mall Shopping .
If you are a savvy investor looking to set and forget, with consistent return above cash rate, this strategically located apartment will prove a valuable asset.
PLEASE CONTACT AGENT FOR FURTHER INFORMATION OR TO ARRANGE AN INSPECTION.
Disclaimer:
The information provided herein, and any further information supplied is intended as general information.
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Property Details for 62/172 William St, Melbourne

62/172 William St, Melbourne is a 2 bedroom, 1 bathroom Apartment. The property has a floor size of 72m2. The place is currently for sale with Galldon Real Estate.

Building Type
Apartment
Floor Size
72m2

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About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 61,354 properties. Over the last 5 years, Houses in Melbourne have seen a -37.57% decrease in median value, while Units have seen a 0.09% increase. As at 30 September 2024:

  • The median value for Houses in Melbourne is $742,012 while the median value for Units is $459,555.
  • Houses have a median rent of $600 while Units have a median rent of $650.
There are currently 305 properties listed for sale, and 250 properties listed for rent in Melbourne on OnTheHouse. According to CoreLogic's data, 2064 properties were sold in the past 12 months in Melbourne.

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