This property represents the perfect alliance, where multiple parts of Milk Chocolate come together.
We purchased the home in Yarraville, in Melbourne’s inner west, earlier this year on behalf of our Aussie expat clients in Singapore. Their goal is to return to Australia in the next 12-24 months, with this purchase acting as their eventual home upon their return.
However, the property wasn’t simply intended as a family home purchase. Instead, we worked with our clients and gave them the knowledge they needed to secure a home that met all the real estate and investment fundamentals. The intention was to lease out the property until they repatriated, providing our clients with a decent ROI.
We’re proud to say that the work our purchasing team put into procuring the property paid off and, supported by our in-house property management team, we were able to lease out the property in next to no time and at a good return.
The home settled on Monday, photos were taken the next day, and it was then advertised to prospective tenants on the Wednesday. At our first open on the Saturday, 11 parties inspected and we received multiple applications.
The property was leased out the following Wednesday, meaning there were just nine days between settlement and leasing.
What’s more, we managed to secure a gross rental yield of 3.11% – a great result compared to the suburb median of 2.8%.
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