$687 pw rent increasing to $803 pw- Twin Key Apartment.

RECEIVING: $35,756 rent pa with 16% total rental increases scheduled until 2027. <br/><br/>Quest Bundoora is located within Uni Hill town centre and a short stroll to DFO Shopping Centre, supermarkets, local restaurants and cafes, Quest Bundoora is located in one of Melbourne's fastest growing northeast suburbs.<br/>Approximately 20kms from the CBD, complete with tram stop nearby taking you directly to the city, the property was purpose built & completed in 2012. <br/><br/>Spacious 2 bedroom, 2 bathroom twin key serviced apartment with car park and balcony.<br/>Under long term lease with Quest Apartment Hotels, and boasting a total floor area of 93m2 including balcony this versatile twin key configuration allows booking flexibility and can be split into a one bedroom + studio, or used as a full 2 bedroom suite.<br/>Featuring two bathrooms, main kitchen and second kitchenette, outdoor balcony and underground secure carpark on title.<br/><br/>Lease Details:<br/>Current Rent: $687 per week - $35,756 pa <br/>Current Return: 7.06% Gross - 6.46% Net<br/><br/>Rental Increases As Follows:<br/>August 2023 + 4%= $715 pw- 7.34% gross<br/>August 2024 + 4%= $743 pw- 7.63% gross<br/>August 2025 + 4%= $773 pw- 7.93% gross<br/>August 2026 + 4%= $803 pw- 8.25% gross<br/><br/>Leased to: 26/08/2027 plus 4 x 5 Year options<br/>Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2027)<br/><br/>**Net return is based on the listed outgoings and doesn't take into account any capital works or additional expenses associated with property ownership. <br/><br/>**** PLEASE NOTE THIS PROPERTY WILL BE DUE FOR REFURBISHMENTS THIS TERM****<br/><br/>The cost is $21,875 + GST for the following: <br/>*New Carpet throughout<br/>*Repainting.<br/>*New stone bench tops to main kitchen & kitchenette.<br/>*Install new LED down lights throughout<br/>*Waterproofing to main and ensuite bathroom. <br/> <br/>Please contact us for more information on the refurbishment.<br/><br/>PLEASE NOTE IMAGES & PHOTO GALLERY MAY BE GENERIC AND NOT OF EXACT <br/><br/>Ideally located within close proximity to La Trobe University, RMIT, Funfields Water Park, Bundoora Park, Bundoora Homestead, Parade College, Northern Hospital and the Northpark Private Hospital.<br/><br/>Approx Annual outgoings: <br/><br/>Approximate Owner Outgoings:<br/><br/>Council Rates: $1165.00 per annum<br/>Water Rates: $795 per annum<br/>Body Corporate Administration Fee: Paid by tenant<br/>Body Corporate Sinking Fund: $1100 per annum<br/><br/>The information provided herein, and any further information supplied, is provided by way of example only. It is intended as general information only and is not to be construed as investment, legal or taxation advice. Potential investors are encouraged to seek the advice of their legal, financial and other advisors prior to investing, so as to determine whether this type of investment is suitable for their specific needs. <br/>The information contained has been provided by third parties. Potential purchasers are advised to conduct independent due diligence to ensure its accuracy. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own inquiries in order to determine whether or not this information is in fact accurate.<br/><br/>