Private balcony - $378 per week rent income!! Lot 401/616 Glenferrie Road, Hawthorn Situated a short 6km from the CBD, the suburb of Hawthorn is one of Melbourne's most affluent and blue chip suburbs. Only 7 years old, complete with large entertainers balcony & situated on Glenferrie Road with shopping, cosmopolitan cafes, restaurants and night life at your doorstep. Securely leased to Quest Apartment Hotels, rents are paid regardless of occupancy. Lease Details Rent: $378 per week ($19,687 per annum) Return: 6.56% Gross / 5.50% Net Rent Increases as follows: 30/05/2019 - $20,475- 6.82% Gross 30/05/2020 - $21,294- 7.09 % Gross Lease Terms: Lease to 29/05/2021 plus 4 x 5 Year options Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021) NO MANAGEMENT, LETTING OR VACANCIES!! Surrounded by Universities, major hospitals, private colleges and only a short tram trip to Melbourne's major sporting areas and city events. Onsite facilities include Gymnasium, and 2 x communal rooftop terraces. A unique opportunity to secure a beautiful apartment in an inner Melbourne suburb. Property boasts 2 x communal rooftop terraces and Gymnasium- pproximate Owner Outgoings: Council Rates: $980 per annum approx. Water Rates: $950 per annum approx. Body Corporate Administration fee: Paid by tenant Body Corporate Sinking fund: $1180 per annum approx. Read more