Sold: Lot 208, Cheltenham, VIC
High Profile Location
This Cheltenham property investment is a 14-minute walk from Westfield Southland shopping centre, 300m from Cheltenham train station and 4.3 km from Beaumaris Beach.
The building is only 5 years old and has been impeccably maintained. Spacious 2 bedroom apartment with twin balconies and underground car park on title. Fully appointed with kitchen, main bathroom plus ensuite, BIR’s, laundry facilities and air conditioning.
As part of our regular maintenance program this apartment will be due for a new paint and carpet in the next 12- 18 months
Current Return: 6.75% Gross / 6.26% Net
Lease Terms: Lease to 27/1/2021 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next review due January 2016 and expected to maintain current rent for the first 12 months)
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Approximate Owner Outgoings:
Council Rates: $1254 pa
Water Rates: $650 pa
Body Corporate Administration Fee: Paid by tenant
Body Corporate Sinking Fund: $500
A hassle free property investment in a great location with a secure long term tenant on a commercial style lease.