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Lot 25, Adelaide, SA

Lot 25, Adelaide, SA

423,300
8.12%  2 Bedrooms 2 Bathrooms

 

** FIXED 4% INCREASES UNTIL 2023**
Just completed major refurbishment, this 2 bedroom twin key apartment will attract investors wanting high net yields.

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.
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
25/ Apt 305A&B $423,300 Under Offer 8.12% 5.59% $661.00 $34,383 p/a

Lease Details:

Current Rent:                                    $661 per week –    $34,383
Current Return:                             8.12% Gross   /   5.59% Net
Lease Terms: Lease to  31/10/2023 plus 2 x 5 year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2023)
1/11/2020: $35,759 p/a – 8.45% Gross Return
1/11/2021: $37,189 p/a – 8.79% Gross Return
1/11/2022: $38,677 p/a – 9.14% Gross Return
1/11/2023: Market Rent Review

2 Bedroom Twin Key Apartment (2 x 1 Bedroom apartment rooms on the one title)
New Kitchen- cabinetry
Stone benchtops, new backsplash and  appliances
Fresh  paint and commercial grade carpet.

Please contact us to obtain the full scope of works recently completed.

Approximate Owner Outgoings:
Council Rates: $1657.45 per annum
Emergency Services Levy: $506.50 per annum
Water Rates: $625 per annum
Body Corporate Administration fee: $6468 per annum
Body Corporate Sinking fund: $1480per annum

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