Investors take note - 7.1% Gross return ! Located in the popular bayside suburb of St Kilda and only a short tram ride to the Melbourne CBD, this spacious 2 bedroom apartment boasts separate lounge and dining areas and a double tandem car parking space on title. The location is hard to beat and is only a short walk to the busy St Kilda restaurant precinct, Albert Park Lake and the nearby St Kilda foreshore with it's iconic yacht club & pier. A fabulous investment opportunity with a Quest lease providing a steady income backed by the security of a bricks and mortar title.Current rent : $31,098pa ($598pw) paid direct monthly (no agent fees)Lease details : current term to July 2019 plus 2 x 5 year optionsRent increases by 4% July 2016, 2017 & 2018Market rent review July 2019 - 4% increases again in the next termOwner OutgoingsCouncil rates $1342pa (2014-2015)Owners Corp Sinking fund $1631 paOwners Corp Administration fee: Paid by tenantWater rates: Paid by Quest tenant