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Sold - Lot 204, Cheltenham, VIC

Sold – Lot 204, Cheltenham, VIC

7.3%  2 Bedrooms 2 Bathrooms 1 Garage

This apartment is a 14-minute walk from Westfield Southland shopping centre, 300m from Cheltenham train station and 2.3 km from Mentone Beach.
The building is only 8 years old and has been impeccably maintained. The apartment consists a 2 bedroom twin key design allowing for the tenant to use the apartment as a 2 bedroom or as separate full size one bedroom apartment and a studio. There is also a carpark and balcony on title.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent Statement of Information
204(204A & B) $450,000 Sold 7.3% 6.7% $635 $33,024  CLICK HERE

Lease Details:

Current Rent: $635 per week -$33,024 pa
Current Return: Return: 7.3% Gross / 6.7% Net
Rent Increases as follows: 
January 2020 – $34,344 – 7.6% gross
January 2021- Market Rent Review
Lease Terms: Lease to  27/01/2021 plus 6 x 5 year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2021)

2 bedroom, 2 bathroom apartment, with outdoor balcony and carpark on title.
A 2 bedroom twin key apartment with an interconnecting allowing the apartment to be used as a seperate one bedroom and studio apartment or a complete 2 bedroom apartment.

Approximate Owner Outgoings:
Council Rates: $1068.23 per annum
Water Rates: $664.50 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $975 per annum

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