Sold – Lot 54, Quest King William, SA
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.
Street facing apartment, within landmark history rich building, with high ceilings overlooking picturesque CBD Adelaide scenery. With fixed 4% annual rent increases until November 2023, its a secure bricks and mortar asset returning strong cash flow.
This one bedroom apartment located on the 7th floor with kitchenette facilities, separate bathroom and double doors opening to master suite with picturesque outlooks to King William streets, and the CBD’s historic buildings and surrounds.
|Lot||Asking Price||Status||Gross Return||Net Return||Weekly Return||Annual Rent|
Current Rent : $368 per week ($19,177 per annum)
Rent Return: 8.5% Gross / 5.1% Net
Lease Terms: Lease to November 2023 with 2 x 5 year options
Rent Review: Next market review November 2023
Rent Increases: 4% increases annually as follows:
2018 + 4% = $19,944 pa
2019 + 4% = $20,741 pa
2020 + 4% = $21,571 pa
2021 + 4% = $22,434 pa
2022 + 4% = $23,331 pa
Approximate Owner Outgoings:
Council Rates: $1482 pa
Water Rates: $606 pa
Body Corporate Admin & Sinking fund levies: $5420 pa
**Please note, due to high occupancy the photos are of identical lot being lot 40 which is one level below lot 54**