Sold – Lot 12, AdelaideCentral, SA
** FIXED 4% INCREASES UNTIL 2023**
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.
A spacious one bedroom apartment- recently undergone refurbishment.
Brand new kitchen with stainless steel appliances, new carpet and paint, beautiful high ceilings, and grand bedroom.
Picturesque outlooks to heritage buildings and leafy CBD surrounds.
NEWLY REFURBISHED, PRESENTS LIKE NEW WITH
• New Kitchen, appliances, benchtops, Joinery
• Bathroom refurbishments
• Tapware, painting & carpet
Within landmark history rich building, with high ceilings and large heritage windows, street facing (Grenfell Street).
Beautifully refurbished, with fixed 4% annual rent increases until November 2023, its a secure bricks and mortar asset returning strong cash flow.
|Lot||Asking Price||status||Gross Return||Net Return||Weekly Return||Annual Rent|
Current Rent : $355 per week ($18,499 per annum)
Rent Return: 8.22% Gross / 4.78% Net
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:
Nov 2019 + 4% rent increase = 8.54 % gross
Nov 2020 + 4%rent increase= 8.89 % gross
Nov 2021 + 4% rent increase= 9.24 % gross
Nov 2022 + 4% rent increase= 9.61 % gross
Approximate Owner Outgoings:
Council Rates: $1216 pa
Water Rates: $620.00 pa
Body Corporate Admin & Sinking fund levies: $5888.00 pa