A unit on a parcel in Frankston VIC. In this market, it is valued at approximately $315,000. In the council area Frankston, featuring 1 bedroom, 1 bathroom.
Low Maintenance, High Yield, Entry level Studio A Spacious studio apartment with modern decor consisting of stone benchtops, mirror splashbacks, stainless steel appliances and feature strip lighting.Roomy enough for a king size bed, desk, dining table and sitting room. Bathroom features frameless glass , stone and quality tapware and finishings.Lease Details:Current Rent: $365 per week -$18,999 paCurrent Return: Return: 7.30% Gross - 5.92%- NetRent Increases as follows:July 2020- $19,758- 7.59% grossJuly 2021- $20,549- 7.89% grossJuly 2022- $21,371- 8.21% grossLease Terms: Lease to 15/04/ 2023 with 3 x 5 yr optionsA neat compact investment, that will involve minimal upgrades in the future , all walking distance to the beach, shopping, restaurants and foreshore walking tracks. Quest Frankston on the Bay, located in the heart of Frankston's entertainment and dining precinct, offers New York-style studio apartments on the Mornington Peninsula and is situated near Bayside Shopping Centre, Frankston Foreshore, and Frankston Arts Centre.Only 7 years old, it is neat, modern and a low maintenance investment with 4% set increases until 2023Approximate Owner Outgoings:Council Rates: $1322 per annumWater Rates: $580 per annumBody Corporate Administration fee: Paid by tenantBody Corporate Sinking fund: $1704 per annum