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Sold - Lot 624S, Docklands, VIC

Sold – Lot 624S, Docklands, VIC

6.5%  1 Bedrooms 1 Bathrooms Year Built: 2005

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 worth $11,000 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.

The apartment consists of a fully equipped kitchen with electric hotplate, oven and dishwasher, bedroom with built-in robes, study nook, laundry facilities and a balcony with views down Bourke Street

Lot Asking Price Status Gross Return
Net Return
Weekly Return Annual Rent Statement of Information
624S $405,000 Sold 6.5% 5.77% $506 $26,328 p/a PDF

Lease Details:

Current Rent: $506 per week ($26,328 per annum)
Next Rent Increase: 8th September 2018
Current Return: 6.5% Gross / 5.77% Net
Rental Increases as follows:
2018 – $27,381 – 6.76%
2019 – $28,478 – 7.03%
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)

Approximate Owner Outgoings:
Council Rates: $1074 p/a approx
Water Rates: $970 p/a approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $935 p/a approx

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