404/201 Hay Street, East Perth WA 6004

$329,000

2 beds

1 baths

THIS PROPERTY IS FOR INVESTORS ONLY

INSPECTION BY APPOINTMENT

NOT FOR RESIDENTIAL USE. SHORT STAY ONLY FOR HOTEL GUESTS

This property is a lucrative investment opportunity, particularly suitable for investors seeking a hassle-free income stream with an existing lease in place with a Hotel Group. . Here's a summary of the key points:

Property Details:
Type: 2-bedroom, 1-bathroom apartment in The Mantra Hotel, East Perth.
Size: Internal living area 74sqm + balcony 7sqm.
Lease Term: 3 years with 4 additional 3-year options.
Lease Start Date: 1/7/23.
Leased to: Panache Hotel Group.
Rent: $28,560 per annum with a 3% increase each year.
Net Rent: $21,390 per annum after deducting a 5% Furniture, Fittings, and Equipment Reserve levy.
Net Yield: 6.5%

Property Features:
Fully furnished modern apartment.
Split system air conditioning.
Heated Pool & Gym for guests' use.
High occupancy level.
Well-maintained property.
Get 1 week free use of the apartment per year

Location:
Conveniently located in Hay St, East Perth, close to Perth CBD.
Easy walk to Langley Park, Swan River, and Queens Gardens.
Free CAT bus service nearby for easy access to Perth CBD shopping precinct.

Guest Services:
Complimentary WIFI in the lobby.
Safety deposit boxes.
Multilingual staff.
Disabled facilities.
Same-day laundry service (Monday to Saturday).
Wedding facilities.
Housekeeping.
Indoor under-cover heated pool.
Range of fitness equipment.
Undercover car parking availability (fee payable).
Business facilities.
Conference room & facilities.

Financials:
Rates/charges:
Council - $1364 pa
Water - $1584 pa
Strata - $4294 pa
Lessee pays a $1000 strata fee contribution in the first year of the lease.

Inspections:
This investment offer's a secure and hassle-free income opportunity with a reputable lessee in place, favorable lease terms, and desirable facilities for short-stay guests. Interested investors should contact the Hotel apartment specialist Brent Morfesse for further details and to schedule an appointment for inspection.

Disclaimer:
This information is provided for general information purposes only and is based on information provided by the Seller and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent enquiries.

Property Details

• Type: Apartment
• Bedrooms: 2
• Bathrooms: 1
• Toilets: 1
• Building Area: 81 m² (approx)