Sold – Lot 319, Frankston on the Bay, VIC
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: 7.30% Gross – 5.92%- Net
| Lot | Asking Price | status | Gross Return | Net Return | Weekly Return | Annual Rent | Statement of Information |
| 319 | $260,000 | Sold | 7.30% | 5.92% | $365.00 | ($18,999 p/a | CLICK HERE |
Rent Increases as follows:
July 2020- $19,758- 7.59% gross
July 2021- $20,549- 7.89% gross
July 2022- $21,371- 8.21% gross
Lease Terms: Lease to 15/04/ 2023 with 3 x 5 yr options
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
