ENTRY LEVEL - INCL FULL REFURBISHMENT- INVESTORS LOT

**** UNDER LONG TERM LEASE WITH QUEST APARTMENT/ HOTELS<br/><br/>This one bedroom apartment, located on level 1, has an internal floor area of 33m2 and features fully equipped kitchen and main bathroom.<br/>On settlement this apartment will undergo a major refurbishment and once completed will provide investors a modern, chic, apartment in the heart of Perth CBD. <br/><br/>Refurbishment includes:-<br/>• New carpet and paint throughout<br/>• Full bathroom refurbishment including tiling, vanity, tapware, shower screen and mirror<br/>• Full kitchen replacement including cabinetry, benchtops, tiling<br/>• State of the art Fisher & Paykel appliances, including dishwasher, oven, cook top, rangehood<br/>• $135,008 Apartment purchase+ $34,842 Refurbishment - $168,850 total. <br/>• RENTS WILL BE PAID IN FULL WHILE REFURBISHMENT WORKS ARE CARRIED OUT.<br/>4% RENTAL INCREASES TO 2026.<br/><br/> <br/>Current Rent: $220 pw - $11,484<br/>Rent Return: 6.76% Gross / 5.29% Net<br/><br/>July 2023 + 4% $11,943= 7.03% gross<br/>July 2024 + 4% $12,421= 7.31% gross<br/>July 2025 + 4% $12,917 = 7.60% gross<br/>July 2026 = Market Review.<br/><br/>Lease to: July 2026 - with 6 x 5 yr options. <br/> <br/>PLEASE NOTE<br/> $ 135,008 APARTMENT PURCHASE PRICE (Stamp Duty Payable) <br/> $ 34,842 REFURBISHMENT COST DUE AT SETTLEMENT <br/> $ 169,850 TOTAL PURCHASE COST <br/><br/>$169,850 BUY IN PRICE INCLUDES FULL REFURBISHMENT.<br/>REFURBISHMENT WILL COMMENCE AT SETTLEMENT.<br/>IMAGES BELOW ARE OF A NON-REFURBISHED LOT. <br/>PLEASE SEE PHOTO GALLERY LINK FOR A RECENTLY COMPLETED & REFURBISHED APARTMENT. <br/><br/><br/>**Net returns do not include government taxes**<br/> <br/>Quest West End is located in the heart of Perth's CBD, just a short walk to RAC Arena, Perth Convention and Exhibition Centre, His Majesty's Theatre, and Kings Square Precinct.<br/>Just beyond, you will find the exciting entertainment precinct of Northbridge and the wonder of Kings Park and Botanic Gardens<br/><br/>Approximate Owner Outgoings:<br/><br/>Council Rates: $1,268.00<br/>Water Rates: $850.00<br/>Body Corporate Admin Fee: PAID BY QUEST TENANT <br/>Body Corporate Sinking Fund: $380.00 per annum<br/><br/><br/><br/>