“An apartment doesn’t have to be in the best building, or even in the best street to just make sense. This compact 2 bedroom strata apartment is currently leased, fully-furnished, for $350pw, on a 12 month lease which runs until late November 2009. The tenant is keen to stay on and the property is sold with its contents. The apartment is in an original condition and offers ample scope to increase returns through renovation. The building “Normandy Building” is in the process of being improved in the entry areas, is structurally sound and dates from the pre-war period. The property is on the entry level of the building at the rear of the block and has an outlook over Earl Place, which receives afternoon sun. With gross returns in excess of 7% pa, this is the perfect opportunity for the seasoned investor.”