66/388 Burwood Highway Burwood VIC 3125
For Sale: $122,000

DESCRIPTION

Attention investors! Seize this stellar opportunity to own an exceptional one-bedroom student apartment, situated in the heart of Burwood, mere moments from the esteemed Deakin University, Melbourne Burwood Campus. This modern abode offers unparalleled convenience for the astute investor, with a proven track record of swift tenancy due to its prime location and tailored amenities for students.

Boasting a generous gross rental yield of over 13%, with potential to escalate to 15%+ if rent is adjusted to $350 per week, this investment is both lucrative and secure, with a lease in place until early 2026. The property features a common laundry, a communal study/meeting area, lift access, and the option of a car space at an additional cost, enhancing its appeal to prospective tenants.

Additional perks include bike storage, storage on title, and the significant advantage of tax depreciation benefits amounting to $2,634 annually against property income. Owners Corporation fees are modest at $689.30 per quarter, ensuring that the investment remains cost-effective.

With a strong rental income of $16,164 per annum at the current rate of $310 per week, this apartment is a wise addition to any investment portfolio. Its convenient location and robust rental returns, combined with the low maintenance lifestyle it offers tenants, ensure this property will continue to attract interest and provide a steady income stream for years to come.