Sold: Lot 52, Newcastle, NSW
Quest Newcastle Property Investment
A unique opportunity to secure a rare 3 bedroom, 2 bathroom apartment in the heart of Newcastle, NSW.
Located on the 7th floor, and boasting a tremendous floor area of 117m2- the apartment provides a spacious family room, dining area, large kitchen and balcony.
A sought after, “hot spot” for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbors.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.
|Apartment||Asking Price||Status||Type||Gross Return||Weekly Rent||Annual Rent|
|Lot 52||$575,000||SOLD||3 BR||6.32%||$699||$36,364|
Current Rent: $699 per week ($36,364 per annum)
Next Rent Increase: 12th December 2016
Current Return: 6.32% Gross / Net 5.72%
Return after August Increase: 6.58% Gross / 5.98% Net
Lease Terms: Lease to 11/12/2017 plus 2 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2017)
Approximate Owner Outgoings:
Council Rates: $1001 per annum
Water Rates: $780 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $1670 per annum