FANTASTIC 7.3% RETURN - $215,000 - ENTRY LEVEL INVESTMENT APARTMENT MANTRA ON RUSSELLApartment 1205 (Lot 1208)222 Russell Street, Melbourne$215,000PLEASE NOTE: THIS IS FOR THE ASTUTE INVESTOR ONLY - NOT FOR OWNER OCCUPATION.We offer here a property of high standard and quality. The apartment is a large fully furnished modern studio apartment of 42 square meters, with separate bathroom, open plan kitchen and lounge area. The property also has an eight square meter East facing balcony. The building has good security, is in a fabulous Melbourne location in the heart of the China Town precinct of Melbourne, and also has a gym, pool, spa, sun deck and quality restaurant attached.This is a rewarding, trouble free investment:-* A superb landmark location* A hassle free investment with no vacancies, no leasing or rent collection fees, no body corporate fees or general maintenance costsThe Mantra on Russell is an outstanding property investment opportunity.Securely leased to the Mantra Group until 2011 with further options thereafter.Current rent: $15,768 pa(With 3% annual increases due in November)Return: 7.3%Options: 3 x 5 year optionsOutgoings:Owner: Council and water rates $1,172 pa (approx)Tenant: Body Corporate fees, Insurance, General maintenance and Water usageAlthough every care has been taken in the preparation of the above information, we stress particulars herein arefor information only, and do not constitute representation by the Owner or the Agent.Additional feature - Sauna.