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For the investor seeking an affordable, genuinely hands-off investment, this two-bedroom Quest apartment presents an opportunity well worth considering.
Returning $23,250 per annum, the apartment is secured by a lease with just over four years remaining, together with two further five-year options, providing the potential for approximately 14 years of income in total. Minimum annual rental increases of 4% make the numbers even more appealing. Best of all, the tenant pays the apartment’s outgoings, including insurance and local council and municipal rates. The owner is responsible only for land tax, where applicable, and Owners Corporation fees of approximately $182 per quarter.
The apartment features two robed bedrooms and two bathrooms, together with separate lounge and dining areas, a generous, modern kitchen with dishwasher, laundry facilities and split system heating/air conditioning. A dedicated car space is also included.
Residents and guests of the Quest complex also get to enjoy access to an outdoor swimming pool and barbeque.
Located on the corner of James Street and Princes Highway, the apartment is within easy reach of Dandenong Hospital, Dandenong Market, Dandenong Square, central Dandenong and Dandenong Train Station. EastLink, the Monash Freeway and Dandenong Bypass are also readily accessible, while Melbourne’s CBD is approximately 28 kilometres away.
Offering the potential to achieve a return of approximately 7.8% to 8%, this is a compelling proposition for the yield-focused investor, delivering a very affordable outlay, reliable income and minimal ongoing involvement.
Opportunity knocks. Secure the investment and let the lease do the work.
We donate a portion of our fee from every property transaction to the Woodards Foundation to support people experiencing homelessness, family violence and social isolation.
