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SOLD- Mont Albert, VIC Lot 28

SOLD- Mont Albert, VIC Lot 28

6.40%  1 Bedrooms 1 Bathrooms 1 Garage

Located within the blue chip leafy suburb of Mont Albert and walking distance to Box Hill’s  Institute, Hospital, Town Hall, and Westfield Shopping precinct, this one bedroom front facing apartment with terrace will enhance any property portfolio.
With an endless array of Box Hill Centro Restaurants and eateries all within walking proximity and public transport options including train, bus and tram at your doorstep it boats an unbeatable location.

1 bedroom, 1 bathroom apartment, with large outdoor terrace  balcony and carpark on title.
Apartment has new carpet and paint, new cooktop and hot water system.

The franchisee has indicated the following refurbishments will be due in 1-3 years:  – Facelift to existing joinery,  Granite Benchtop overlay,  Stone Splash backs to kitchen
new Kitchen Floor Tiles & grout.   Approx estimated cost : $4,600- $6,500

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent Statement of Information
28 $340,000 UNDER CONTRACT 6.40% 5.90% $419.00 $21,789  CLICK HERE

Lease Details:

Current Rent: $419 per week -$21,789 pa
Current Return:   6.40% Gross / 5.90% Net***
** Net is calculated on $0 sinking fund contributions which is currently in credit**

Rent Increases as follows:
September 2021 + 4%  =  $22,660 – 6.65%  gross
September 2022 + 4%  =  $23,566-  6.92%  gross
September 2023 – Market Rent Review.

Lease Terms: Lease to  28/09/2023 plus 4 x 5 year options

**Refurbishment costs not factored into net yield**

Approximate Owner Outgoings:
Council Rates: $766.95 per annum
Water Rates: $710.82 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $631.47 per annum

**** PLEASE NOTE THERE IS A LONG TERM GUEST OCCUPYING LOT 28-
IMAGES BELOW MAY BE OF A GENERIC LOT-  PLEASE CONTACT ME TO DISCUSS****

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