Sold – Lot 16, Newcastle NSW
A unique opportunity to secure a large one bedroom apartment in the heart of Newcastle’s CBD.
Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, located on the 3rd floor, it boasts a tremendous floor area of 75m2 & Carpark on title.
*** OWNER HAS JUST PAID FOR BATHROOM UPGRADES***
*** QUEST PAY WATER RATES, ADMIN LEVIES & HALF COUNCIL RATES***
A sought after, “hot spot” for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbours.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.
|Lot||Asking Price||Status||Gross Return||Net Return||Weekly Return||Annual Rent|
Current Rent: $396 per week ($20,635 per annum)
Current Return: 6.07% gross- 5.70% NET
Next Rent Increase: June 2019
Increasing as follows:
June 2019 – $412 per week (21,460 per annum) 6.31 gross return
Lease Terms: Lease to 11/06/2020 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years
Spacious 1 bedroom apartment boasting a floor area of 75m2. Entertainers covered balcony area, large kitchen and spacious lounge all with car park on title.
The building features a communal indoor pool & gymnasium.
Recent Apartment upgrades include:
New shower screen and vanity, regrouting & new mirror, new vinyl floor tiles to kitchen, LED light installation & feature wall painting.
Approximate Owner Outgoings:
Council Rates: $550 p/a (1/2 levies are PAID BY QUEST)
Water Rates: PAID BY QUEST
Body Corporate Administration fee: PAID BY QUEST
Body Corporate Sinking fund : $697 p/a