Friday Form Guide: Yields of up to 5.3% in Port Melbourne

Friday Form Guide: Yields of up to 5.3% in Port Melbourne
Cassidy KnowltonDecember 8, 2020

8/174 Esplanade East, Port Melbourne, VIC, 3207


This one-bedroom apartment with a car space in Port Melbourne is one block away from the bay and within walking distance of Port Melbourne's shops and attractions. It is currently owner-occupied but could prove appealing for tenants. Hocking Stuart agent Jason Holod estimates that the property would rent for $400 per week, and it has price hopes of $390,000 plus. If it sells for $390,000 and is rented at $400 per week, that would be a gross rental yield of 5.3%, far higher than the indicative gross rental yield for Port Melbourne units of 4.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 11.30am.

For more about indicative gross rental yields and prices in Port Melbourne, see the RP Data suburb page.

For other investment prospects going to auction this weekend, see pages 2 and 3.

 


 

17/93-103 Euston Road, Alexandria, NSW, 2015

 

This dual-level townhouse-style apartment could appeal to tenants, as it is within walking distance of St Peters and Erskineville train stations. The two-bedroom, two-bathroom unit comes with a car parking space, and it is close to King Street and Erskineville village. Sydney Boutique Property agent Tom Scarpignato has completed a rental analysis of the property and estimates it would secure about $600 per week in rent. The property has $600,000 plus hopes. If it sells at that price a $600-per-week rent would secure an investor a gross rental yield of 5.2%. The indicative gross rental yield for units in Alexandria is 6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 1.45pm. 

For more about indicative gross rental yields and prices in Alexandria, see the RP Data suburb page.

 


 

14/239 Canterbury Road, St Kilda, VIC, 3182


This studio apartment in fashionable St Kilda West comes with its own car park and is seconds away from a tram stop serving two lines. The property is currently tenanted, and the tenants are keen to stay. Similar properties in the area rent for about $290 per week. Hocking Stuart agent Simon Graf is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 and is rented for $290 per week, that would secure an investor a gross rental yield of 6.3%, well above the indicative gross rental yield for St Kilda West units of 3.8%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 11am. 

For more about indicative gross rental yields and prices in St Kilda West, see the RP Data suburb page.

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