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Sold: Lot 13, Potts Point, Sydney, NSW

Sold: Lot 13, Potts Point, Sydney, NSW

7%  1 Bedrooms 1 Bathrooms

Lot 13, Quest Potts Point – SYDNEY

Superbly located this Studio style apartment offers investors the opportunity to own an inner Sydney CBD apartment at a very affordable price with a steady rental income which is not dependent on the occupancy of your apartment. You receive rent each month and can rest easy knowing Quest are looking after your investment daily. Located right in the heart of Kings Cross its location cannot be beaten with the following in a close proximity:
– Kings Cross Station
– Royal Botanic Gardens
– Local Dining and Cafes

Apartment Asking Price Status Design Gross Return Weekly Rent Rent p/a
Lot 13 $337,000 SOLD 1 Bed Studio 7% $457 $23,790

 

Lease Details
Current Rent: $457 per week ($23,790 per annum)
Next Rent Increase: 1st December 2016
Current Return: 7% Gross / Net 6.1%
Lease Terms: Lease to 30/11/2018 plus 5 x 5 Year options
Rent Increases: 4.5% yearly with market rent reviews every 5 years (next due 2018) – 6% Ratchet clause at the rent review.
Approximate Owner Outgoings:
Council Rates: $675 per annum approx
Water Rates: $800 per annum approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1550 per annum approx

 

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