The wife and I are currently vacationing in Australia and have spent the past 2 days in Melbourne.
We happened to chance upon the advertising below for Art on the Park, a completed project that is located next to our hotel at Williams Street. Williams Street is just a couple of blocks away from Melbourne CBD and there is a beautiful park (Flagstaff Gardens) just across from Art on the Park. The famous Queen Victoria Market is a mere 5 minutes' walk away.
The sales office was closed but a search over the internet revealed that the current asking price for 1-bedroom apartment of about 545sqft is around A$456,000. So the gross rental yield is just a tad over 4.3%.
Those interested can access information about Art on the Park by clicking on the link below:
http://www.scribd.com/doc/229178996/Art-on-the-Park-Melbourne
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