Sold – Lot 802, Docklands VIC
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 which included LED down lights, a new split system air conditioner in the bedroom, new cook top and stone overlays on the kitchen and bathroom bench tops.
The apartment is a twin key design and consists of a full size one bedroom apartment and small studio apartment. The full size one bedroom apartment is 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 while the studio has a bathroom and small kitchenette.
|Lot||Asking Price||Status||Gross Return||Net Return||Weekly Return||Annual Rent||Floor Plan||Statement of Information|
|Lot 802S (802A & 802B)||$550,000||SOLD||7.5%||6.7%||$769.00||$40,018||Link|
Current Rent: $769 per week ($40,018 per annum)
Next Rent Increase: 8th September 2018
Current Return: 7.5% Gross / 6.7% Net
Rental Increases as follows:
2018 – $41,618 – 7.85%
2019 – $43,283 – 8.16%
Lease Terms: Lease to 07/09/2020 plus 7 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)
Approximate Owner Outgoings:
Council Rates: $1772 p/a approx
Water Rates: $1000 p/a approx
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1335 p/a approx