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Overview
Positioned on the second level with a desirable easterly aspect, this contemporary one-bedroom serviced apartment offers around 46 square meters of internal living space designed for investment purposes rather than owner occupation.
The apartment features high ceilings and floor-to-ceiling glazing, allowing abundant natural light to enhance the sense of space and openness. The kitchen is appointed with stone benchtops and European stainless-steel appliances, efficiently integrated within an open-plan lounge and dining area that flows seamlessly onto a bright balcony, expanding the living environment.
A large bedroom with built-in robes and a well-maintained tiled bathroom provide comfortable and practical accommodation. Convenience is further enhanced with in-unit laundry facilities and a titled car parking space, adding to the property's functionality for tenants.
Located within the Punt Hill Oakleigh apartment hotel complex, this apartment is strategically placed minutes from key commercial and shopping centers including Chadstone Shopping Centre, Oakleigh, Notting Hill, and Clayton business precincts. It also offers relatively easy access to Melbourne CBD, situated approximately 12 km away.
Current tenancy arrangements provide a stable income stream, with rent approximating $26,534 per annum and annual increases of 3% between market reviews, reflecting a gross yield estimate of 9.5%. The lease runs until April 2029 with options for two further five-year terms, appealing to savvy investors seeking reliable returns.
- Low ongoing outgoings including owners corporation fees, insurance, and maintenance costs
- Additional costs borne by the owner include the owners corporation maintenance fund, council rates, and water rates
- Inspection access is limited to private appointments, underscoring the investment nature of the property
This apartment presents a solid opportunity for investors targeting serviced accommodation in a well-located suburban hub of Melbourne.
Local Market Insights
In Oakleigh, Quiet Listings observed 7 new apartments entering the market over the last 30 days, down from 8 during the previous 30-day period, with an average advertised asking price of $444,286. The property type mix of listed properties is predominantly Houses at 42%, followed by townhouses (19%), and apartments (16%). The most active agency for apartments in the Oakleigh area is currently OBrien Real Estate, representing 43% of new listings, followed by Melbournian Property Group with 14%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Market Insights for Oakleigh VIC 3166
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