Lot 8 Portland, VIC
Opportunity to secure wonderful three bedroom apartment in the heart of Portland.
Recently updated with new carpet, paint and window furnishings, boasting full ensuite to master bedroom, large spacious living zones and entertainers balcony overlooking the inground swimming pool.
Allocated on title parking, a great entry level addition to an investment portfolio.
Securely leased to Quest for $351 per week (regardless of occupancy) with scheduled rent increases until 2023.
Gross Return: 7.95% – Net Return: 6.04%
|Lot||Asking Price||status||Gross Return||Net Return||Weekly Return||Annual Rent||Statement of Information|
|8||$229,900||Under Contract||7.95%||6.04%||$351.00||($18,279 p/a||CLICK HERE|
Next Rent Increase: 1st July 2020
Rental Increases as follows:
1/07/2020 – +4%= $365 pw
1/07/2021 – +4%= $380 pw
1/07/2022 – +4%= $395 pw
1/07/2023 – Market Review
Lease Terms: Lease to 30/06/2033 plus 3 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2023)
Approximate Owner Outgoings:
Council Rates: $1499 per annum
Water Rates: $900 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1985 per annum