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Sold - Lot 53, Townsville, QLD

Sold – Lot 53, Townsville, QLD

53  103m2  2 Bedrooms 2 Bathrooms Year Built: 1999
Lot 53, (Apt’s 709 & 710) 30-34 Palmer Street.  Townsville QLD. Fully refurbished at a cost of almost $40,000 in 2015, this spacious apartment features new carpets & paint, new kitchen joinery , appliances and full upgrade to both bathrooms.
Located on level 7 with uninterrupted views on the harbour, a dual key configuration featuring 2 bedrooms, 2 bathrooms, and car park on title.
VERY LOW OUTGOINGS, QUEST PAY COUNCIL, WATER & INSURANCE AND ADMIN FUND!!
Centrally located Quest Townsville is in the heart of the city’s dining precinct and offers an array of award winning cafes, restaurants and convention facilities as well as easy access to Magnetic Island.
Townsville is the major business hub in Northern Queensland and home to the Lavarach Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 53 $420,000 SOLD 7.68% 7.19% $621 $32,295
Lease Terms: Lease to 13/04/2022  with 1  x 5 Year options.
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)
SCHEDULED INCREASES AS FOLLOWS:
April 2018-   $33,587-   7.99% –
April 2019-   $34,930-   8.31%
April 2020-  $ 36,327-   8.64%
April 2021-  $ 37,780-   8.98%

Very spacious 2 bedroom apartment,
103m2 in total including balconies.
Featuring 2 x balconies, full upgrade to internals and fabulous views.**PLEASE NOTE PHOTOS ARE GENERIC AND MAY NOT BE OF EXACT LOT.

Approximate Owner Outgoings:
Council and Water Rates: PAID BY QUEST
Body Corporate Administration fee: PAID BY QUEST
Body Corporate Sinking fund : $1900 PER ANNUM

 

 

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