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Lot 319, Quest Frankston on the Bay

Lot 319, Quest Frankston on the Bay

A Spacious studio apartment with modern decor consisting of stone benchtops, mirror splashbacks, stainless steel appliances and feature strip lighting.
Roomy enough for a king size bed, desk, dining table and sitting room. Bathroom features frameless glass , stone and quality tapware and finishings.

Lease Details:
Current Rent: $365 per week -$18,999 pa
Current Return: Return: 7.03% Gross – 5.70%- Net

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent Statement of Information
319 $270,000 Avail 7.03% 5.70% $365.00 ($18,000 p/a  CLICK HERE

Rent Increases as follows:
July 2020- $19,758- 7.31% gross
July 2021- $20,549- 7.61% gross
July 2022- $21,371- 7.91% gross
Lease Terms: Lease to 15/04/ 2023 with 3 x 5 yr options

A neat compact investment, that will involve minimal upgrades in the future , all walking distance to the beach, shopping, restaurants and foreshore walking tracks.

Quest Frankston on the Bay, located in the heart of Frankston’s entertainment and dining precinct, offers New York-style studio apartments on the Mornington Peninsula and is situated near Bayside Shopping Centre, Frankston Foreshore, and Frankston Arts Centre.

Only 7 years old, it is neat, modern and a low maintenance investment with 4% set increases until 2023

Approximate Owner Outgoings:
Council Rates: $1322 per annum
Water Rates: $580 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1704 per annum

 

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