Sold: Lot 104, Cheltenham, VIC
This apartment is a 14-minute walk from Westfield Southland shopping centre, 300m from Cheltenham train station and 4.3 km from Beaumaris Beach.
The apartment is only 5 years old and has been impeccably maintained, with some brand new carpet just being installed. The property has just gone through its rent review leaving you with 4% renal increases all the way until 2021.
|Apartment||Asking Price||Status||Design||Gross Return||Weekly Rent||Rent p/a|
|Lot 104 (104 A & B)||$415,000||SOLD||2 Bed TK||7.1%**||$566**||$29,480**|
**Rent & Return’s quoted are as of January 2017**
Rent as of January 17: $566 per week ($29,480 per annum)
Next Rent Increase: 28th Jan 2018
Return from 28th January 17: 7.1% Gross / Net 6.64%
Lease Terms: Lease to 27/1/2021 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)
Approximate Owner Outgoings:
Council Rates: $1161 per annum
Water Rates: $670 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $11 per annum
As part of our regular maintenance program, the apartment will be due for a repaint in the very near future. It is estimated to cost $1500 and planning to happen mid 2017 (Please refer to page 147 of contract for details).