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Sold: Lot 28, Williamstown, VIC

Sold: Lot 28, Williamstown, VIC

7%  1 Bedrooms 1 Bathrooms 1 Garage

Located at the end of Syme Street, overlooking Gem Pier and next door to the the Royal Victorian Yacht Club this waterfront location is hard to beat.
Williamstown Property Investment is only 9kms from the Melbourne CBD and has become one of the trendiest suburbs of Melbourne with its abundance of cafes, restaurants, parks and plenty of beautiful heritage listed buildings you don’t have to wonder why.
The apartment was freshly painted last year and boasts internal laundry facilities, reverse cycle air conditioning, a fully equipped kitchen, undercover car park and a balcony overlooking the Yacht Club.

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 28 (Apartment 18) $340,000 SOLD 7% 6.25% $458 $23,840

Lease Details:

Current Rent: $458 per week ($23,840 per annum)
Next Rent Increase: 9th November 2017
Current Return: 7% Gross / Net 6.25%
Return after Rent Increase: 7.3% Gross / Net 6.56%
Lease Terms: Lease to 8/11/2018 plus 2 x 5 Year options
Rent Increases: Rent is fixed for the first 2 years of every term following that is 4.5% rental increases per annum and market rent reviews every 5 years (next due 2018)

Approximate Owner Outgoings:
Council Rates: $1141 per annum approx
Water Rates: $653 per annum approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $794 per annum approx

**** Refurbishments****
As is common with all Quest Apartments, scheduled upgrades are estimated for this building at the next review with works most likely including kitchen and bathroom works please contact me should you wish to discuss further.

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