For Sale

203/1142 Mt Alexander Road, Essendon, Vic 3040

$299,000

Apartment

Type

Bedrooms

Bathrooms

Published on Tuesday, October 06, 2026 ( See property details for 203/1142 Mt Alexander Road, Essendon, Vic 3040)

$299,000

View the agent price guide.

Thoraya Jeena Senior Property Consultant

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AI Property Insight

AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A modern, fully refurbished second-floor apartment in Essendon offering a secure, long-term lease with excellent rental returns and premium amenities.

🏡 Property Highlights

Long-term lease with Punt Hill, ensuring stable income
Gross rental return of approximately 7.9%
Refurbished with new carpet, fresh paint, and window furnishings
Contemporary fit-out with stone bench, stainless steel appliances, and Euro laundry
Fully equipped gym and flexible meeting room in complex
Prime Essendon location close to shops, transport, and major roads

✨ Key Features

Built-in Robes
Open-Plan Living
Balcony
Dishwasher
Heating
Cooling
European Laundry
Security
Floorboards
Pet-Friendly

Suburb and Property Insights of Essendon, VIC 3040

Essendon is a vibrant suburb renowned for its excellent transport links, diverse shopping options, and lively local pubs. It offers a strong community atmosphere, proximity to parks and recreational facilities, and easy access to major road networks, making it an ideal location for both investors and residents seeking convenience and lifestyle amenities.

Frequently Asked Questions

What are the ongoing costs associated with this property?

As an investment property, ongoing costs may include strata fees, council rates, and maintenance expenses. Specific details should be confirmed with the strata manager and your financial advisor.

Is the property compliant with current building and safety standards?

The apartment has been recently refurbished with modern fixtures and fittings, and all safety standards are assumed to be met. A thorough inspection and compliance check are recommended prior to purchase.

What is the process for lease renewal and rent increases?

The lease is managed by Punt Hill, with options for renewal and rent adjustments in accordance with tenancy laws and lease agreements. Details can be obtained from the current property manager.

Are there any planned developments or zoning changes in the area?

Potential buyers should review local council planning schemes and zoning regulations to understand any future developments that may impact the property.

What are the restrictions on pets in the apartment?

The property is listed as pet-friendly, but specific restrictions or approval processes may apply. Confirm with the strata or property manager.

What to ask about this property to agent?

Are there any upcoming strata fee increases or special levies planned? Has the property been inspected for any structural or pest issues? Are there any restrictions on sub-leasing or short-term rentals? Is there any history of flooding or bushfire risk in the area? Are there any ongoing disputes within the strata community?

203/1142 Mt Alexander Road, Essendon, Vic 3040 - More Details

$299,000

INVESTMENT HIGHLIGHTS
• 7.9% gross rental return
• Current net rental income of approximately $21,054.55 p.a.
• Lease commenced currently a 5 YEAR Lease commencing on the 20th February 2026 & running to 2031.
• Three further 5-year lease options available to Punt Hill.
• Established serviced apartment operator
• There are NO vacancy periods, no letting fees and no advertising for any new tenant.
• This apartment has also been refurbished with new carpet, fresh paint & new window furnishings, thus keeping future expenditure low.
• Fully equipped gym and Flexible meeting room available for events in Complex.
• Contemporary fit out including stone bench, stainless steel appliances, heating, cooling, window furnishings and Euro laundry.
• Convenient Essendon location close to shops, public transport, pubs and major road links

If you're looking to add a secure, income-producing asset to your property portfolio, this second-floor serviced apartment presents an attractive investment opportunity with a long-term lease to Punt Hill and a current GROSS RENTAL-return of approximately 7.9%.

This is an opportunity to secure an investment with an established accommodation operator, providing the benefit of an existing rental arrangement rather than the uncertainty of finding and retaining a residential tenant.
The apartment itself offers comfortable, well-appointed accommodation comprising a spacious bedroom with mirrored built-in robes, generous open-plan living and dining with heating and cooling in living zone , and direct access to a good-sized balcony.
The contemporary kitchen features stone bench tops , stainless-steel appliances and a dishwasher, while the sparkling central bathroom includes convenient European laundry facilities.

Strictly an investment property and offered subject to a long-term lease.

CONTACT THORAYA JEENA 0481 22 66 88 YOUR TRUSTED TOORAK AGENT FOR FURTHER INFORMATION
(Although every care has been taken in the preparation of the information above, we stress particulars herein are for information purposes only, and do not constitute representation by the Owner or the Agent.)
DUE DILIGENCE CHECKLIST https://www.consumer.vic.gov.au/housing/buying-and-selling-property/checklists/due-diligence

Type: Apartment
Bedrooms: 1
Bathrooms: 1

Price guide

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Map & nearby places — 203/1142 Mt Alexander Road, Essendon, Vic 3040

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