Located on level 8 with uninterrupted port/ harbour views, this spacious 2 bedroom, 2 bathroom – twin key apartment was fully refurbished at a cost of almost $40,000 in 2015.
140m2 in total including balconies & carport carparking on title.
Second top floor, featuring 3x balconies, full upgrade to internals including new carpets & paint, new kitchen joinery , appliances and full upgrade to both bathrooms.
Current Rent: $576 per week ($30,000 p/a)
Increasing 1st August 2018 to: $600 per week ($31,200 p/a)
|Lot||Asking Price||status||Gross Return||Net Return||Weekly Return||Annual Rent|
|64 (apt 815 & 816)||$420,000||Avail||7.14%||5.44%||$576.00||$30,000 p/a|
Current Return: 7.14% Gross/ 5.44% Net
SET INCREASES AS FOLLOWS:
AUG 2018- $ 31,200- 7.42% gross
AUG 2019- $ 32,448- 7.72% gross
AUG 2020- $ 33,745- 8.03% gross
AUG 2021- $ 35,095- 8.35% gross
AUG 2022- $ 36,499- 8.68% gross
AUG 2023- $ 37,959- 9.03% gross
Lease Terms: Lease to 31/07/2024 with 3 x 5 Year options.
Rent Increases: 4% yearly with market rent review not due until 2024)
Centrally located Quest Townsville is in the heart of the city’s dining precinct and offers an array of award winning cafes, restaurants and convention facilities as well as easy access to Magnetic Island.
Townsville is the major business hub in Northern Queensland and home to the Lavarach Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure.
A long term- high income investment.