Secure Investment - No Tenant Hassles Here's a great opportunity to secure this stunning apartment located in the ever popular and picturesque East Melbourne pocket, nestled between the MCG, Melbourne CBD, and cosmopolitan Bridge Road Richmond, the location speaks for itself. Current Rent: $474 per week ($24,685 per annum) Next Rent Increase: 6th August 2016 by 4% Current Return: 6.4% Gross / Net 5.5% approx. Lease Terms: Lease to 5/8/2017 plus 3 x 5 Year options Rent Increases: 4% yearly with market rent reviews every 5 years (next due August 2017) Approx. Owner Outgoings: Council rates $1432pa Water rates approx $950pa Sinking Fund $1,000pa Sophisticated executive studio style accommodation, recently fully refurbished and measuring approximately 45sqm. Comprises an open plan lounge and dining area, two open bedroom areas, built-in robes and separate access style bathroom. The building features on site guest laundry facilities and a stunning roof top terrace.