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Sold - Lot 33, Quest on Story Bridge, Brisbane, QLD

Sold – Lot 33, Quest on Story Bridge, Brisbane, QLD

6.5%  1 Bedrooms 1 Bathrooms 1 Garage

Within walking distance to Brisbane River on the CBD fringe, this 1 bedroom apartment with a car park on title boasts a fully equipped kitchen with stainless steel oven and rangehood, electric cooktop, dishwasher and split system air conditioning, balcony and a modern bathroom.
Building facilities include in ground swimming pool and
outdoor barbeque.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent Floor Plan
33 $260,000 Sold 7.00% 5.04% $350.00 $18,200 Link

Lease Details:

Current Rent:  $350 per week-  $18,200 per annum.
Next Rent Increase: October 2018
Current Return: 6.50% Gross / 4.69% Net**
Increasing as follows:
October 2018: $18,928 – 7.28%- gross
October 2019: $19,685 – 7.57%- gross
October 2020:$20,472 – 7.87%- gross
October 2021: $21,291 – 8.19%- gross
Lease Terms: Lease to 14/10/2022 with 1 x 5 year options.
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)
**Net return based on a $1500 per annum rebate for services listed in note under outgoings**

 

Approximate Owner Outgoings:
Council Rates: $1487 p/a
Water Rates: $805 p/a
Body Corporate Administration & Sinking fund fee: $4290p/a**
**Body Corporate and Sinking fund figures are based on a 10% discount for paying on time
-Please note-
Services such as Foxtel, Gas & Electricity are paid via the body corporate and as a result Quest reimburses each quarter.
Approx reimbursement back to the owner is $1250.00- $1650.00 per annum- this amount varies dependent on the usage***

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