213/48 Wellington Parade East, Melbourne VIC 3002

This property offers a secure investment opportunity in the form of a Level 2 serviced apartment located within Quest East Melbourne. Boasting a prime inner-city location close to Melbourne's CBD, MCG, and Fitzroy Gardens, it grants convenient access to vibrant lifestyle amenities.

The apartment benefits from a long-term lease with Quest Hotel until August 2027, including four additional options of five years each, generating a consistent rental income of approximately $16,794.12 per annum with a guaranteed 4% fixed annual increase. This steady income stream is enhanced by a market rent review every five years, with the next scheduled for August 2027, reducing vacancy risks and landlord involvement.

Outgoings are shared efficiently, where tenants cover Owners Corporation administration fees and water usage, while owners are responsible for maintenance, council rates, and water rates.

Ideal for investors seeking a hands-off, set-and-forget property in one of Melbourne's most prestigious suburbs, this apartment combines low management effort with secure guaranteed returns. The location and tenancy structure appeal to those desiring stability and income growth within a blue-chip market.