Block Sky High 9% plus rental yields possible on $1.3 million sale prices

Potential buyers of the lower level apartments in the Block Sky High complex have been advised that gross yields for any investment could be in the range of 9% to 10% based on a $1.3 million purchase price.

The yield arises from $1,600 unfurnished to $1,800 fully furnished weekly rentals at the 142 Park Street address.

The return, after including tax depreciation benefits, is estimated at between $121,000 to $137,000.

The rental yield appraisals for the  South Melbourne apartments are based on the tax benefits possible for a taxpayer on the highest taxation bracket.

It was only a guide.