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Sold: Lot 107, Frankston, VIC

Sold: Lot 107, Frankston, VIC

1 Bedrooms 1 Bathrooms 1 Garage

Entry Level Price with Great Returns

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 Rent Annual Rent
Lot 107 $265,000 SOLD 6.78% 5.9% $345 $17,980

Lease Details:

Current Rent: $345 per week ($17,980 per annum)
Next Rent Increase: 11th April 2017
Current Return: 6.78% Gross / Net 5.9%
Return as of 11th April 2017:  7% Gross / 6.2%
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: $1444 per annum
Water Rates: $562 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $165 per annum

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