Cheap as Chips on Glenferrie Road !! With FIXED 4% rental INCREASES UNTIL 2021, this cosmopolitan studio apartment is like new and only 5 years old. 2 x rooftop terraces, modern bathroom and kitchen- Its a fantastic, stress free, well maintained, entry level addition to your portfolio. NO refurbishments due. Building only 5 years old, Rental return 6.57% increasing to 7.68% over term. Walk to cafes, restaurants, shopping and night life. Surrounded by Universities, major hospitals, private colleges. Short tram trip to Melbourne CBD, MCG, Rod laver arena and Richmonds China town precinct. Onsite facilities include Gymnasium, and 2 x rooftop terrace. Lease Details Current Rent: $338.70 per week ($17,615.37 per annum) Next Rent Increase: May 2017 Current Return: 6.57 % Gross INCREASING TO: 6.83% in May 2017: Further increases as follows: May 2018: - 7.10% May 2019: - 7.39% May 2020: - 7.68% Lease Terms: Lease to 30/05/2021 plus 4 x 5 Year options Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021) Approximate Owner Outgoings: Council Rates: $1184 pa Water Rates: $845.00 Body Corporate Administration fee: Paid by tenant Body Corporate Sinking fund : $920 p/a Apartment is a studio