Frankston on the Bay, VIC
At the gateway to the Mornington Peninsula, Quest Frankston by the Bay is located in the heart of Frankston’s central business district and within walking distance to the beach and the entertainment and restaurant precinct.
ONLY 5 YEARS OLD & boasting a total floor areas between of 50m2 and 52.3m2, one being an opportunity to secure an water front view.
Apartments are finished with high quality fixtures, split system heating/ cooling and kitchenette featuring stainless steel appliances.
|Lot||Asking Price||status||Gross Return||Net Return||Weekly Return||Annual Rent||Statement of Information|
|305||$305,000||Avail||6.84%||5.96%||$401.00||$20,888 p/a||PDF CLICK HERE|
|114||$280,000||SOLD||7.04%||5.25%||$379.00||$19,727 p/a||PDF CLICK HERE|
Lease Details- Lot 305- Bay Views
Rent : $401 per week ($20,888 per annum)
Return: 6.84% net- 5.96% Net
Terms: Lease to 14/04/2023 plus 3 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next not due until 2023)
Rent cannot increase or decrease by more than 6% at market review.
Rent Increases as follows: 15th
April 2019- $417 p/w- 7.11% return
April 2020- $434 p/w 7.39% return
April 2021- $451 p/w 7.69% return
April 2022- $469 p/w 8.00% return
Large One bedroom studio, total floor area 52.3m2.
Uninterrupted full bay views from your entire apartment, with spacious living area, balcony and stylish kitchenette & bathroom.
The property also boasts a large communal entertainers terrace- with foreshore/ ocean views, Bayside Shopping Centre at the rear, cafes & restaurants and pristine beaches at your doorstep.
Carpet and Paint refurbishment will be due within the next 6- 18 months
Approximate Owner Outgoings
Council Rates: $1101 pa approx
Water Rates: $680 pa approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $900 pa approx