INVESTORS BE QUICK! SECURE RENTAL INCOME + 4% INCREASE
Secure this investment apartment at Quest Frankston on the Bay, ideally located in the heart of Frankston, just steps from the Frankston Foreshore and close to cafés, restaurants, shopping and public transport.
Offering an attractive entry point at $242,000, the property provides an established rental income of $19,021 per annum, with a scheduled 4% increase in April 2027 followed by a market review in April 2028.
JUST COMPLETED CARPET, PAINT AND ELECTRICAL UPGRADES.
This light-filled studio offers a low-maintenance layout with a sleek kitchen including cooktop, oven and storage, together with a generous bathroom.
Quest Frankston on the Bay offers guests a comfortable serviced apartment experience with access to a gym, business lounge, terrace and onsite launderette.
With a long-term lease structure, scheduled rental growth and 17 years of options remaining, this property offers investors an opportunity to secure established income in a prime Frankston location.
INVESTMENT DETAILS
Sale Price: $242,000
Current Rent: $19,021 per annum - $365 pw
Current Gross Return: 7.85%
Current Net Return: 6.66%
RENT INCREASES
April 2027: +4% increase = $19,781.84 per annum - 8.17% Gross Return
April 2028: Market Review
Lease: April 2028 with 17 years of options remaining
OWNER OUTGOINGS
Council Rates: $1,198 p.a.
Water Rates: $780 p.a.
OC Sinking Fund: $910 p.a.
Total Annual Outgoings: $2,888 p.a.
WHY INVEST HERE?
Established rental income from day one
7.85% current gross return
6.66% current net return
Scheduled 4% rental increase in April 2027
Gross return increases to approximately 8.17% based on the current sale price
Market review scheduled for April 2028
17 years of lease options remaining
Recently completed carpet, paint and electrical upgrades
Prime Frankston location close to the foreshore, shops, dining and public transport
Please note some images may be generic and not of exact lot
For more information, please contact Mandy Fountain 0408 10 30 10
Director and Licensed Real Estate Agent
Mandy Fountain specializes in Serviced Apartment Sales across Australia, with a sound understanding of lease structures and tenant and owner obligations.
DISCLAIMER
The information contained in this brochure has been provided by the vendor and other sources and is believed to be reliable; however, it has not been independently verified. It is provided for general information purposes only and does not constitute financial, investment, legal or taxation advice.
Prospective purchasers should conduct their own independent enquiries and due diligence and obtain appropriate professional advice before making any investment decision. No warranty or representation is made as to the accuracy or completeness of the information, and no liability is accepted for any errors, omissions or reliance placed upon it.
