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Sold - Lot 208, Cheltenham, VIC

Sold – Lot 208, Cheltenham, VIC

7.1%  2 Bedrooms 2 Bathrooms 1 Garage Year Built: 2011

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 of 2 bedrooms, 2 bathrooms (en-suite to master), spacious lounge/dining area, stainless steel appliances, split system air conditioning and 2 balconies (one off master bedroom).

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent Statement of Information
208 $435,000 SOLD 7.1% 6.69% $598 $31,126  CLICK HERE

Lease Details

Current Rent: $598 per week ($31,126 per annum)
Next Rent Increase: 28th Jan 2020
Current Return: 7.1% Gross / Net 6.69%
Return as of 28/1/2020: $32,371 per annum / 7.44% Gross
Lease Terms: Lease to 27/1/2021 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (Next market review due in 2021)

Approximate Owner Outgoings:
Council Rates: $1013 per annum
Water Rates: $667 per annum
Body Corporate Administration Fee: Paid by tenant
Body Corporate Sinking Fund: $349 per annum

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