INVESTORS $41,830 PA RENT - 8.23% GROSS / 7.54% NET
Located within Uni Hill Town Centre and a short stroll to DFO Shopping Centre, supermarkets, local restaurants and cafés, Quest Bundoora is positioned in one of Melbourne's growing north-eastern suburbs.
Approximately 20km from Melbourne's CBD, with a tram stop nearby providing convenient access towards the city, the property was purpose-built and completed in 2012.
Ideally located close to La Trobe University, RMIT, Funfields Water Park, Bundoora Park, Bundoora Homestead, Parade College, Northern Hospital and Northpark Private Hospital.
This spacious two-bedroom, two-bathroom apartment offers approximately 82m² of living space with a conventional straight two-bedroom configuration not an interconnecting twin-key apartment.
Refurbishments were carried out in 2024, including carpet, painting, downlight upgrades, stone benchtops, and waterproofing and caulking to the bathrooms.
The property also includes an underground secure car park and access to a communal mezzanine BBQ area.
PROPERTY DETAILS
2 Bedrooms
2 Bathrooms
Straight 2-Bedroom Configuration Not Interconnecting
Approx. 82m² Living Space
Underground Secure Car Park
INVESTMENT DETAILS
Price: $508,000
Current Rent: $41,830 per annum / $804 per week
Gross Return: 8.23%
Net Return: 7.54%
LEASE DETAILS
Leased to: 26/08/2027
Lease Options: 4 x 5-year options
Rent Increases: 4% yearly
Next Market Rent Review: 2027
Net return is based on the annual owner outgoings listed below and does not include stamp duty or government taxes associated with property ownership.
APPROXIMATE OWNER OUTGOINGS
Council Rates: $1,700 per annum
Water Rates: $880 per annum
Body Corporate Administration Fee: Paid by tenant
Body Corporate Maintenance Fund: $900 per annum
Total Owner Outgoings: $3,480 per annum
PRIME BUNDOORA LOCATION
Conveniently positioned within walking distance of the Uni Hill shopping precinct, the apartment provides easy access to DFO, supermarkets, restaurants, cafés and public transport.
The surrounding area also provides convenient access to major universities, hospitals, recreational facilities and other established amenities.
Combining $41,830 per annum rental income, an 8.23% gross return and 7.54% net return with 4 x 5-year lease options, this property presents investors with an opportunity to secure a refurbished two-bedroom apartment in an established Bundoora location.
With refurbishments completed in 2024, approximately 82m² of living space, a secure underground car park and convenient access to shopping, universities, hospitals and public transport, this is a well-positioned addition to an investment portfolio.
For more information, please contact:
Mandy Fountain
Director & Licensed Real Estate Agent
Ph: 0408 103 010
Annie Strafford
Sales Agent
Ph: 0417 365 000
DISCLAIMER
The information provided herein, and any further information supplied, is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek advice from their legal, financial and other professional advisors prior to investing to determine whether this type of investment is suitable for their specific needs.
The information contained has been provided by the vendors or third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. No responsibility is accepted for its accuracy, and all interested parties should make and rely upon their own enquiries.
