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Lot 37, Adelaide, SA

Lot 37, Adelaide, SA

8.43%  2 Bedrooms 2 Bathrooms

** FIXED 4% INCREASES UNTIL 2023**

Just completed major refurbishment, this 2 bedroom twin key apartment will attract investors wanting high net yields.

Located in the heart of Adelaide’s CBD with an abundance of restaurants, cafes, shopping and entertainment at your doorstep, this entry level apartment is priced to sell.
With fixed 4% annual rent increases until November 2023,  its a secure bricks and mortar asset returning strong cash flow.

2 Bedroom Twin Key Apartment (2 x 1 Bedroom apartment rooms on the one title)
New KItchen- cabinetry
Stone benchtops, new backsplash and  appliances
Fresh  paint and commercial grade carpet.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent
37/ Apt 507 & 508 $495,000 Available 8.43% 6.23% $802.00 $41,746 p/a

Lease Details:

Current Rent:                                    $802 per week –    $41,746
Current Return:                             8.43% Gross   /   6.23% Net
Lease Terms: Lease to  31/10/2023 plus 2 x 5 year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2023)
1/11/2020: $43,415 p/a – 8.77% Gross Return
1/11/2021: $45,152 p/a – 9.12% Gross Return
1/11/2022: $46,958 p/a – 9.48% Gross Return
1/11/2023: Market Rent Review

Approximate Owner Outgoings:
Council Rates: $1771.80 per annum
Emergency Services Levy: $354.80 per annum
Water Rates: $617 per annum
Body Corporate Administration & Sinking Fund: $8152 per annum

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