King William, Adelaide
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.
Street facing apartment, within landmark history rich building, with high ceilings and large heritage windows overlooking picturesque CBD Adelaide scenery.
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|
|101||$220,000||Under Contract||9.58%||6.27%||$405.00||$21,087 p/a|
Lease Terms: Lease til November 2023 with 2 x 5 year options
Rent Review: Next market review November 2023
Rent Increases: 4% increases annually as follows:
2018 + 4% = $21,931 pa
2019 + 4% = $22,808 pa
2020 + 4% = $23,720 pa
2021 + 4% = $24,669 pa
2022 + 4% = $25,656.37
Approximate Owner Outgoings:
Council Rates: $1285 pa
Water Rates: $605.00 pa
Body Corporate Admin & Sinking fund levies: $5396.00 pa
Apartment is approximately 55m2.
*** PLEASE NOTE:*** This property will be due for major refurbishment in 2018. Refurbishment plan will include works to kitchen and bathroom. Please contact me to discuss the estimated costs in more detail.
**This property will remain open to offers until Tuesday 14th November at 11am. Offers can be submitted via email. Please contact me to discuss in more detail.**