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Sold - Lot 40, King William, Adelaide

Sold – Lot 40, King William, Adelaide

1 Bedrooms 1 Bathrooms

Located in the heart of Adelaide’s CBD with an abundance of restaurants, cafes, shopping and entertainment at your doorstep, this entry level apartment is priced to sell.
Street facing apartment, within landmark history rich building,  overlooking picturesque CBD Adelaide scenery.
With fixed 4% annual rent increases until November 2023, it’s a secure bricks and mortar asset returning strong cash flow.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent
40 $235,000 Sold 9.41% 6.53% $425.00 $22,115 p/a


Lease Terms:        Lease til November 2023 with 2 x 5 year options
Rent Review:         Next market review November 2023
Rent Increases:    4% increases annually as follows:
2018 + 4% = $21,959 pa
2019 + 4% = $22,837 pa
2020 + 4% = $23,751 pa
2021 + 4% = $24,701 pa
2022 + 4% = $25,689 pa

 

Approximate Owner Outgoings:
Approximate Owner Outgoings:
Council Rates: $1243 pa
Water Rates: $605.00 pa
Body Corporate Admin & Sinking fund levies: $4920.00 pa
*** PLEASE NOTE:***  This property will be due for major refurbishment in 2018.  Refurbishment plan will include works to kitchen and bathroom.  Please contact me to discuss the estimated costs in more detail.

 

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