**INVESTORS ONLY**
A spacious one bedroom apartment with a smart modern kitchen, stainless steel appliances, internal laundry facilities, separate bathroom, split system air conditioning, balcony, underground car park on title and onsite gym it ticks all the boxes.
The building location is superb and is a short walk away from The Shrine of Remembrance, Royal Botanic Gardens, Albert Park Lake, South Melbourne Market, Melbourne Arts Centre, Flinders Street Station and Federation Square this apartment won't last long.
Lease Details:
Current Rent: $436 per week -$22,700 pa
Current Return: Return: 6.3% Gross / 5.64% Net
Rent Increases as follows:
March 2020 - $23,608 - 6.55% gross
March 2021- $24,552 - 6.81% gross
March 2022 - $25,534 - 7.08% gross
March 2023 - $26,555 - 7.37% gross
March 2021 - Market Rent Review
Lease Terms: Lease to 24/03/2024 plus 5 x 5 year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2024)
Approximate Owner Outgoings:
Council Rates: $1194.16 per annum
Water Rates: $674 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $520.76 per annum
**Please note that the franchisee has indicated some refurbishment works this term consisting of carpet replacement and new window furnishings
