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Sold: Lot 104, Cheltenham, VIC

Sold: Lot 104, Cheltenham, VIC

7.1%  2 Bedrooms 2 Bathrooms 1 Garage Year Built: 2011

This apartment is a 14-minute walk from Westfield Southland shopping centre, 300m from Cheltenham train station and 4.3 km from Beaumaris Beach.
The apartment is only 5 years old and has been impeccably maintained, with some brand new carpet just being installed. The property has just gone through its rent review leaving you with 4% renal increases all the way until 2021.

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 104 (104 A & B) $415,000 SOLD 2 Bed TK 7.1%** $566** $29,480**

**Rent & Return’s quoted are as of January 2017**

Lease Details:

Rent as of January 17: $566 per week ($29,480 per annum)
Next Rent Increase: 28th Jan 2018
Return from 28th January 17: 7.1% Gross / Net 6.64%
Lease Terms: Lease to 27/1/2021 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)

Approximate Owner Outgoings:
Council Rates: $1161 per annum
Water Rates: $670 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $11 per annum

As part of our regular maintenance program, the apartment will be due for a repaint in the very near future. It is estimated to cost $1500 and planning to happen mid 2017 (Please refer to page 147 of contract for details).

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