Fiona and Greg’s Journey

This month our Buyers Agent team had a wonderful client adventure which took an exciting turn. It just goes to show that some things happen for a reason!

Our journey took us to Balaclava; a little hidden gem suburb in Melbourne’s inner south east. Balaclava is home to some of the best coffees and cakes; and this boutique apartment was no exception. Within easy walk to Carlisle St and Balaclava train station, we were very excited when we inspected this neat, first floor 2BR apartment in the block of eight. With security entrance, car space on title and the prospect of a good tenant, we knew that this property made the grade. Negotiations commenced and sadly another buyer’s advocate whisked the property out from under our nose with a knock-out offer.

Having a good working relationship with the agent however, he quickly changed the mood when he suggested that the apartment next door could be on the market. It was indeed a better apartment because this first floor property was not only street facing and offering optimum orientation and views, but it had a stair well between it and the unit next door, meaning that none of the walls were shared with other apartments. The bonus was a willing tenant who not only chose to stay on and resign a lease, but to resign at $410pw with the addition of an aircon unit. Our buyer was able to coordinate access to the property and at $427,000, the gross rental yield on 4/24 Blenheim St meant that his gross rental yield was soon to be a record 5%.