10/34 Belgravia Street, Belmont WA 6104

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10/34 Belgravia Street, Belmont WA 6104

Offers above $4,000,000

10 beds

10 baths

14 parking

OPPORTUNITY - Entire Modern Apartment Building (10 Units)

FULLY LEASED INVESTMENT:
• Fully leased investment of entire strata complex of 10 modern residential apartments/townhouses in the thriving City of Belmont, located in close proximity to the Perth CBD and the Perth Domestic and International Airports.

MODERN APARTMENT BUILDING:
• 2 x Townhouses (3 Bedroom + Study with 2 Bathrooms + Powder)
• 8 x Apartments (2 Bedroom with 2 Ensuite Bathrooms)

INCOME:
• Entire building securely leased to professional operator until April 2026
• Current Gross Income of circa $210,000 pa with annual CPI rental increases

LOCATION:
• 10 min drive to Perth CBD
• 5 min drive to Domestic Airport
• 10 min drive to International Airport
• 5 min drive to Redcliffe Railway Station
• 150m walk to Transperth Bus Stop

OTHER:
• Large Recreation Room
• Large Gymnasium
• 14 x Car Bays
• 10 x Individual Secure Storage Rooms

OPPORTUNITY:
There are substantial investment upside opportunities for this property.
• Easy to manage investment - fully leased.
• Annual CPI rental increses (next due in April this year)
• At the expiry of the lease in April 2026 an astute operator can take over the management of the properties and obtain the full retail rental in lieu of the current wholesale rental, which will substantially increase the investment yield.
• Alternatively, at the expiry of the lease either some or all of the individual units can be sold for the full market selling prices, and the balance can be leased for the full retail market rental.

This represents a great opportunity for an investor with a 2-3 year vision with potential for significant upside, with the majority of any new owner's holding costs being covered by the current tenant's wholesale lease.

Call Dan Ehrenfeld today on 0404 877077 for further enquires and information.