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Sold: Lot 31, Potts Point, NSW

Sold: Lot 31, Potts Point, NSW

6.67%  1 Bedrooms 1 Bathrooms

Lot 31/15 Springfield Avenue, Potts Point

Superbly located this Studio style apartment offers investors the opportunity to own an inner Sydney CBD apartment at a very affordable price with a steady rental income which is not dependent on the occupancy of your apartment. You receive rent each month and can rest easy knowing Quest are looking after your investment daily. Located right in the heart of Kings Cross its location cannot be beaten with the following in a close proximity:
– Kings Cross Station
– Royal Botanic Gardens
– Local Dining and Cafes

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 31 $435,000 SOLD 6.67% 5.87% $558 $29,018

Lease Details:

Current Rent: $558 per week ($29,018 per annum)
Next Rent Increase: 1st December 2017
Current Return: 6.67% Gross / Net 5.87%
Lease Terms: Lease to 30/11/2018 plus 4 x 5 Year options
Rent Increases: 4.5% yearly with market rent reviews every 5 years (next due 2018)
*The lease also has a ratchet clause which means at the market rent review the rental amount cannot increase or decrease by more than 6%


Approximate Owner Outgoings:
Council Rates: $692 per annum
Water Rates: $797 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $2004 per annum

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