Sold – Lot 71, Quest on William, VIC
Quest on William is located in the CBD, and is only minutes from Crown Casino, Etihad Stadium, Southbank, Queen Victoria Market and The Arts Precinct and Bourke Street Mall Shopping.
Quest pay Council, Water & Owner corporation Admin Levies and there are fixed 3% increases to the rent per annum until 2023!
A long established Quest business, this one bedroom apartment is situated on level 7 and front facing to William Street.
This investment property in Melbourne CBD provides a natural lit and spacious inner city apartment with full kitchen and internal laundry facilities, separate bedroom and bathroom. With secure tenure and increases until 2023 you cannot overlook this fantastic investment.
|Lot||Asking Price||Status||Gross Return||Net Return||Weekly Return||Annual Rent|
Current Rent: $382 per week ($19,882 per annum)
Rent as of Jan 2018: $393.80 per week ($20,478 per annum)
Next Rent Increase: January 2018
Return as of Jan 2018: 6.30% Gross / Net 6.08%
Lease Terms: Lease to 09/01/2023
(Quest would like to increase the options of the lease to 4 x 5 years).
Rent Increases: 3% yearly with next market rent review not until 2023.
Rent increases as follows:
Jan 2018- $20,478 pa- 6.30%
Jan 2019- $21,092 pa- 6.48%
Jan 2020- $21,725 pa- 6.68%
Jan 2021- $22,377 pa- 6.88%
Jan 2022- $23,048 pa- 7.08%
**PLEASE NOTE AS APARTMENTS ARE IDENTICAL SOME GENERIC IMAGES MAY HAVE BEEN USED IN MARKETING**
Approximate Owner Outgoings:
Council Rates: PAID BY QUEST
Water Rates: PAID BY QUEST
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $706 per annum
**As is common with all Quest Apartments this property will be due for upcoming refurbishments. Works may include bathroom upgrades consisting of bath hob removal, new vanity, tiling and tap ware. Kitchens may require updates to benchtops etc. For more information regarding time frame and cost estimates please contact me.**.show less