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Sold - Lot 201, Glen Waverley, VIC

Sold – Lot 201, Glen Waverley, VIC

2 Bedrooms 2 Bathrooms 1 Garage

When looking for investment properties in Melbourne, this property is set within walking distance to the Glen Waverley restaurant precinct, Monash City Council, Holmesglen Tafe, Glen Waverley Station and The Glen Shopping centre there are all manner of amenities at your doorstep.
The apartment is a 2 bedroom twin key apartment and consists of a full size one bedroom apartment with a full size kitchen (including stainless steel oven, cooktop and dishwasher), spacious lounge and dining, bathroom, laundy facilities and a bedroom with built in robes and balcony. The studio side consists of a open plan bedroom with built-in robes, bathroom and mini kitchenette.

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 201 $514,000 Sold 6.52% 6% $644 $33,530

Lease Details:

Current Rent: $644 per week ($33,530 per annum)
Rent as of 8/12/17:
$670 per week (34,871 per annum)
Next Rent Increase:
8th December 2017
Current Return:
6.52% Gross / Net 6%
Yield as of 8/12/17:
6.78% Gross / Net 6.26%
Lease Terms:
Lease to 7/12/2018 plus 6 x 5 Year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2018)

Approximate Owner Outgoings:

Council Rates: $1332 per annum
Water Rates: $200 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1156 per annum

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