Front-Facing Two-Bedroom Investment- $33,447 per annum rent return.
Presenting an exceptional opportunity to secure a front-facing, two-bedroom apartment with a private balcony in the thriving Frankston investment market.
Ideally positioned this investment apartment offers a fixed rental return, rents paid regardless of occupancy, with no management fees, no letting fees, and hotel tenant paying owners corporation Admin levies and building insurance saving owners thousands per year!
With a long-term lease in place and fixed rental increases until 2028, the property provides exceptionally high NET yields.
Price $399,900
Current Rent $33,447
Gross Return: 8.33%
Net Return: 7.50%
Increases as follows:
April 2027 + 4% = $ 34,784 = 8.66% gross
Leased to April 2028 with 17 years options remaining.
Just undergone refurbishments, with new carpet, fresh painting throughout and electrical upgrades.
* No management fees
* No letting fees
* Furniture paid by hotel operator
Landlord Annual Outgoings:
Council Rates: $1,276.35
Water Rates: $704.20
OC Maintenance Levy: $1,353.04
Located in the heart of Frankston's vibrant entertainment and dining precinct, Quest Frankston on the Bay within the Mornington Peninsula's provides guests with convenient access to Bayside Shopping Centre, Frankston Foreshore, Frankston Arts Centre, local cafés and restaurants, as well as the Peninsula Hot Springs, renowned wineries, beautiful beaches and a host of family attractions.
Developed in 2005 this modern, low-maintenance investment offers the security of a quality tenant, fixed rental increases through to 2028, and the benefit of a long-term lease with 17 years of options remaining. Offering strong returns, and an outstanding location.
An excellent addition to any investment portfolio.
**Disclaimer**
The information contained herein has been provided by the owner and verified against the Contract of Sale. It is believed to be accurate at the time of publication; however, the information is subject to change without notice and may be amended without our knowledge.
Prospective purchasers should conduct their own due diligence and obtain independent legal, financial and taxation advice before making any investment decision. While every care has been taken in the preparation of this information, no representation or warranty is made as to its accuracy or completeness, and all interested parties should rely on their own enquiries and assessment.
