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Sold: Lot 49, Quest Potts Point, Sydney, NSW

Sold: Lot 49, Quest Potts Point, Sydney, NSW

6.8%  1 Bedrooms 1 Bathrooms

Superbly located this Studio apartment offers investors the opportunity to own an inner Sydney CBD apartment at a very affordable price with a steady rental income which is not dependent on the occupancy of your apartment. You receive rent each month and can rest easy knowing Quest are looking after your investment daily. Located right in the heart of Kings Cross its location cannot be beaten with the following in a close proximity:
– Kings Cross Station
– Royal Botanic Gardens
– Local Dining and Cafes

Lot Asking Price Status Gross Return Net Return Weekly Rent Annual Rent
Lot 49 $310,000 SOLD 6.8% 5.9% $406 $21,141

Lease Details:

Current Rent: $406 per week ($21,141 per annum)
Next Rent Increase: 1st December 2017
Current Return: 6.8% Gross / Net 5.59%
Return at 1/12/17: 7.13% Gross / 5.9% Net
Lease Terms: Lease to 30/11/2018 plus 4 x 5 Year options
Rent Increases: 4.5% yearly with market rent reviews every 5 years (next due December 2018)
**The lease also has a 6% Ratchet Clause which means the rent cannot go up or down by more than 6% at the market rent review**

Approximate Owner Outgoings:

Council Rates: $692 per annum approx
Water Rates: $767 per annum approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $2323 per annum approx

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