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Frankston, VIC

Frankston, VIC

6.52%  1 Bedrooms 1 Bathrooms 1 Garage

Located in the Bayside suburb of Frankston and within easy access to the Frankston Freeway, Eastlink, Monash University (Peninsula Campus), Frankston Arts Centre and the local shopping and dining precinct.
This one bedroom apartment is spacious and boasts a fully equipped kitchen (oven, cook top and dishwasher), built in robes, internal laundry facilities, split system heating and cooling, patio and a car park on title.

Lot Asking Price Status Gross Return
Net Return Weekly Return Annual Rent Statement of Information
Lot 105 (Apt 14) $282,000 Avail 6.52% 5.65% $353 $18,407 PDF


Lease Details:

Current Rent: $353 per week ($18,407 per annum)
Next Rent Increase: 11th April 2019
Current Return: 6.52% Gross / Net 5.65%
Return as of 11th April 2019: $19,143.28 /  6.78% Gross
Lease Terms: Lease to 10/04/2020 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

Approximate Owner Outgoings:
Council Rates: $1453 per annum
Water Rates: $700 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $330 per annum

**Please Note**
Due to high occupancy all internal photos and videos are of lot 106 (Apt 13) which is a mirror image apartment across the hall

**Please note, the franchisee has indicated some capital works will be required at the next review (April 2020) with upgrades to the bathroom,kitchen, re paint and carpet likely

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