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104//72 Upper Heidelberg Road, Ivanhoe VIC 3079

$470,000

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$470k - $494k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 2 Beds 2 Baths 1 Car 66 m²

Listed: yesterday

Overview

This spacious twin-key serviced apartment occupies a first-floor position within a desirable Ivanhoe complex, featuring 66 square meters of well-designed internal living space complemented by a generous 23 square meter north-facing terrace. The apartment's layout is thoughtfully configured for investment, offering two bedrooms with built-in robes, and two bathrooms including one with dedicated laundry facilities. High ceilings and floor-to-ceiling glazing allow abundant natural light, enhancing the tastefully refurbished interiors.

The property boasts a quality kitchen with European stainless steel appliances and an additional kitchenette, providing flexibility for dual living or rental arrangements. A secure undercover car park is included on title, adding convenient and rare vehicle accommodation within the development.

This apartment carries a long-term lease exclusively for investment purposes, currently secured by a lease to Quest until November 2028, with options extending potentially to 2053. The investment offers an impressive annual gross return of approximately 8.1%, supported by consistent rent reviews and minimal outgoing costs. The tenant covers owners corporation administration, insurance, and general maintenance, while the owner is responsible for council and water rates and a modest maintenance fund contribution.

Set within the vibrant Ivanhoe village precinct and just 15 minutes from Melbourne’s CBD, this property suits investors seeking a stable, high-yield investment backed by a reputable corporate tenant. The arrangement may be particularly appealing for self-managed superannuation funds seeking reliable income streams with long-term security.

Local Market Insights

In Ivanhoe, Quiet Listings observed 13 new apartments entering the market over the last 30 days, up from 7 during the previous 30-day period, with an average advertised asking price of $686,923. The property type mix of listed properties is predominantly Houses at 41%, followed by apartments (28%), and units (13%). The most active agency for apartments in the Ivanhoe area is currently Jellis Craig, representing 31% of new listings, followed by Miles Real Estate with 23%. 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.