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Sold - Lot 404, Quest on Dorcas, VIC

Sold – Lot 404, Quest on Dorcas, VIC

6.3%  1 Bedrooms 1 Bathrooms 1 Garage

An open plan one bedroom with smart modern kitchen, stainless steel appliances, laundry facilities, separate bathroom, split system air conditioning, balcony, underground car park on title and onsite gym it
ticks all the boxes.
The building location is superb and is a short walk away from The Shrine of Remembrance, Royal Botanic Gardens, Albert Park Lake, South Melbourne Market, Melbourne Arts Centre, Flinders Street Station and Federation Square this apartment won’t last long.

Lease Details:

Current Rent: $388 per week ($20,196.80 per annum)
Next Rent Increase: 25th March 2018
Current Return: 6.3% Gross / Net 5.7%
Lease Terms: Lease to 24/03/2019 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2019)

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 404 $320,000 SOLD 6.3% 5.7% $388 $20,196

Approximate Owner Outgoings:
Council Rates: $757 per annum approx.
Water Rates: $670 per annum approx.
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $452 per annum approx

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