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Sold: Lot 304, Launceston, TAS

Sold: Lot 304, Launceston, TAS

7.28%  2 Bedrooms 2 Bathrooms

Lot 304, Quest Launceston

Located in the heart of town, Quest Launceston is within walking distance to Tas TAFE, QVMAG Art Gallery, Local shopping & food and the beautiful City Park. Boasting extra large apartments this twin key design has a Studio side consisting of a kitchenette with cook top, split system air conditioner, Study area and a Bathroom while the full size one bedroom apartment consists of a fully equipped kitchen (oven, cooktop and dishwasher), internal laundry, lounge room and a seperate bedroom with built in robes. The apartment will be re-carpeted, repainted, tile re-grout and new bathroom cupboards all installed this year at no expense to the new owner.

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 304 $460,000 SOLD 2 BR TK 7.28% $644 $33,502
Lease Details
Current Rent: $644 per week ($33,502 per annum)
Next Rent Increase: 1st July 2017
Current Return: 7.28% Gross / Net 6.4%
Lease Terms: Lease to 30/06/2021 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)

Approximate Owner Outgoings:
Council Rates: $2091 p/a approx
Water Rates: $700 p/a approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1260 p/a approx (payable half yearly)

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