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Lot 401, Docklands, VIC

Lot 401, Docklands, VIC

7%  2 Bedrooms 2 Bathrooms

In the heart of the Docklands business district and within walking distance to Southern Cross Station, Crown Casino, Restaurants, Cafes, Marina’s and Etihad Stadium literally at the back door there is little wonder why this is one of Quest Apartments flagship buildings.

Built in 2005 and in December 2015 underwent refurbishment works  which included LED down lights, a new split system air conditioner in the bedroom, new cook top, updated bathroom including a new shower and a stone overlay on the kitchen and bathroom bench tops. This is a great serviced apartments to buy in Docklands.

Lot Asking Price Status Gross Return Net Return Weekly Return Annual Rent
401 $575,000 SOLD 7.00% 6.30% $778 $40,499

Lease Details:

Current Rent: $778 per week ($40,499 per annum)
Next Rent Increase: 8th September 2018
Current Return: 7% Gross / 6.3% Net
Future Rents & Returns:
$42,638 as at 8/09/2018 / 7.4% Gross Return
$43,803 as at 8/09/2019 / 7.6% Gross Return
Lease Terms: Lease to 07/09/2020 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)
Next Market Review: 8/09/2020

 

Approximate Owner Outgoings:
Council Rates: $1523 per annum
Water Rates: $922 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1341 per annum

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