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Sold: Lot 1114, Quest on Dorcas, Sth Melbourne, VIC

Sold: Lot 1114, Quest on Dorcas, Sth Melbourne, VIC

6.76% return  2 Bedrooms 2 Bathrooms

Superbly located, this South Melbourne apartment is within meters of the Royal Botanic Gardens, cafes, and restaurants.

An open plan two bedroom and two bathroom apartment, with smart modern kitchen, stainless steel appliances, laundry facilities and reverse cycle heating/ cooling.
Outdoor balcony, undercover car park on title and onsite gym it ticks all the boxes.
The apartment also boasts a fantastic location and is within walking distance to the South Melbourne Market, Albert Park Lake, Royal Botanic Gardens, the Melbourne Arts Precinct, Federation Square, Southbank Promenade and of course all the local cafes, bars and restaurants.

Apartment Asking Price Status Type Gross Return Weekly Rent Annual Rent
Apartment 1114 $330,000 SOLD 1BR 6.3% $400 $20,800

 Next Rent Increase: 25th March 2017
Current Return: 6.76% Gross / Net 6.1%
Lease Terms: Lease to 24/03/2019 plus 4 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2019)

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