Sold: Echuca VIC
Prime Regional Location – High Return Secure Investment
Outstanding investment opportunity with bricks and mortar security. Long term lease to Quest with options to 2038. Busy Quest location year round with no tenant hassles, rents paid direct by Quest Echuca regardless of occupancy, no agent fees, no management fees and the OC Admin fees paid by your tenant.
Built in 2008 and being offered for sale for the first time as individual strata titled investment apartments, the highly successful Quest Echuca is centrally located in the heart of town with all that Echuca has to offer within easy reach. Boasting great shopping, excellent restaurants, bars and the Murray River with its historic port area and iconic paddle steamers only minutes walk away. The property stands apart from it’s competition by offering stylish two and three bedroom twin key apartments, excellent conference facilities, solar heated outdoor pool and BBQ area, onsite car park on title. Catering for the corporate traveller during the week and holiday makers during the weekends and school breaks. Each apartment features a fully equipped kitchen with dishwasher, built-in robes, main bathroom plus ensuite, air conditioning, laundry facilities, balcony or terrace and a car park.
Fast Facts
- Purpose Built 2008 as a Quest serviced apartment complex.
- Lease to July 2018 plus 4×5 year options (Option for 2018 will be exercised)
- Rent Increases by 4% again in July 2017. Market rent review July 2018
- New carpets and internal repainting completed 2014.
Approximate Owner’s Outgoings (sample 2 BR apartment):
- Council Rates $2700 pa
- Water rates $880 pa
- Owner’s Corporation Maintenance Fund $1240 pa
- Owner’s Corporation Administration fee – paid by Quest Echuca
- Building Insurance – Paid by Quest Echuca
| Apartment | Asking Price | Bedrooms | % Return | Weekly Return | Annual Return | |
|---|---|---|---|---|---|---|
| LOT 1 | SOLD | 2 | 7.8% | $562 | $29,206 | |
| LOT 2 | SOLD | 2 | 7.8% | $562 | $29,206 | |
| LOT 3 | SOLD | Conference | 9.33% | $269 | $14,000 | |
| LOT 4 | SOLD | Reception | 9.33% | $269 | $14,000 | |
| LOT 101 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 102 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 103 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 104 | SOLD | 3 | 7.8% | $639 | $33,243 | |
| LOT 105 | SOLD | 3 | 7.8% | $639 | $33,243 | |
| LOT 106 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 107 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 108 | SOLD | 2 | 7.8% | $586 | $30,496 | |
| LOT 109 | SOLD | 2 | 7.8% | $578 | $30,042 | |
| LOT 110 | SOLD | 2 | 7.8% | $578 | $30,042 | |
| LOT 201 | SOLD | 2 | 7.8% | $600 | $31,178 | |
| LOT 202 | SOLD | 2 | 7.8% | $600 | $31,178 | |
| LOT 203 | SOLD | 2 | 7.81% | $624 | $32,425 | |
| LOT 204 | SOLD | 3 | 7.8% | $664 | $34,534 | |
| LOT 206 | SOLD | 2 | 7.81% | $624 | $32,425 | |
| LOT 207 | SOLD | 2 | 7.81% | $624 | $32,425 | |
| LOT 208 | SOLD | 2 | 7.81% | $624 | $32,425 | |
| LOT 209 | SOLD | 2 | 7.81% | $624 | $32,425 | |
| LOT 210 | SOLD | 2 | 7.81% | $616 | $32,030 | |
| LOT 301 | SOLD | 2 | 7.81% | $627 | $32,616 | |
| LOT 302 | SOLD | 2 | 7.81% | $627 | $32,616 | |
| LOT 304 | SOLD | 2 | 7.81% | $634 | $32,976 | |
| LOT 305 | SOLD | 2 | 7.8% | $634 | $32,976 | |
| LOT 306 | SOLD | 2 | 7.81% | $627 | $32,616 | |
| LOT 307 | SOLD | 2 | 7.81% | $627 | $32,616 | |
| LOT 308 | SOLD | 2 | 7.81% | $627 | $32,616 |
