CALL 1800 MY QUEST (1800 697 837):

Sold - Lot 14, Adelaide Central, SA

Sold – Lot 14, Adelaide Central, SA

8.76%  1 Bedrooms 1 Bathrooms

** 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.
Within landmark history rich building, with high ceilings and recently 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
14 $244,000 Sold 8.76% 5.59% $411.00 $21,385

Lease Details:

Current Rent: $411 per week ($21,385 per annum)
Next Rent Increase: 1st November 2019
Current Return: 8.76% Gross / 5.59% Net
Lease Terms: Lease to 31/10/2023 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next market review due 2023)
Scheduled Increases:
1/11/2019: 4% increase – $22,241 –  9.11% Gross Return
1/11/2020: 4% increase – $23,130 – 9.47% Gross Return
1/11/2021: 4% increase – $24,055 – 9.86% Gross Return
1/11/2022: 4% increase – $25,018 – 10.25% Gross Return

Approximate Owner Outgoings:
Council Rates: $1330 per annum
Water Rates: $563 per annum
Emergency Service Levy: $243 per annum
Body Corporate Administration fee: $4640 per annum
Body Corporate Sinking fund: $980 per annum

People also visited