At this address is a unit in Docklands VIC. The local council is Melbourne, featuring 1 bedroom, 1 bathroom.
Strong Rent Returns in the Docklands **Investors Only**In the heart of the Docklands business district and within walking distance to Southern Cross Station, Crown Casino, Restaurants, Cafes, Marina's and Etihad Stadium literally at the back door there is little wonder why this is one of Quest Apartments flagship buildings.Built in 2005 and in December 2015 underwent refurbishment works worth $11,000 which included LED down lights, a new split system air conditioner in the bedroom, new cook top, updated bathroom including a new shower and a stone overlay on the kitchen and bathroom bench tops.The apartment consists of a fully equipped kitchen with electric hotplate, oven and dishwasher, bedroom with built-in robes, study nook, laundry facilities and a balcony with views down Bourke Street.Lease Details:Current Rent: $526 per week ($27,380 per annum)Next Rent Increase: 8th September 2018Current Return: 6.41% Gross / 5.69% NetRental Increases as follows:2018 - $28,476 - 6.67%2019 - $29,615 - 6.94%Lease Terms: Lease to 07/09/2020 plus 5 x 5 Year optionsRent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)Approximate Owner Outgoings:Council Rates: $1143 p/a approxWater Rates: $993 p/a approxBody Corporate Administration fee: Paid by tenantBody Corporate Sinking fund: $967 p/a approx