This is a unit in Chermside QLD. Data from comparable sales value it at about $430,000. In the local government area Brisbane, featuring 2 bedrooms and 2 bathrooms.
3 Years Young with 7% Rent Return **INVESTORS ONLY**The complex is ideally located next door to the Westfield shopping centre and only 10kms from the Brisbane CBD.The apartment is a twin key design which contains the flixbibility of having it used as a one bedroom apartment and a seperate studio or as a full size 2 bedroom apartment.The apartment consists of split system heating and cooling, electric oven, electric cooktop, dishwasher, internal laundry facilities and a balcony looking down Playfield Street.The carparks are all common area however each lot has a car park allocated to it.The apartment is approx 82m2 internal plus a 7m2 balcony.LEASE DETAILS:Current Rent: $654 per week ($34,027 per annum)Next Rent Increase: 17th November 2019Current Return: 7% Gross / Net 6.37%Rental Increase 17/11/2019: $35,388 p/a / 7.31% GrossLease Terms: Lease to 16/11/2030 plus 2 x 5 Year optionsRent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)APPROX OWNER OUTGOINGS:Council Rates: $1575.80 paWater Rates: $850 p/aBody Corporate Administration fee: Paid by tenantBody Corporate Sinking fund : $749 p/a