6.28% Rent Return with Owner Usage
304/18 Finlay Place, Carlton
**INVESTORS ONLY**
Located just off one of Melbourne's most famous streets, Lygon Street lies Quest Carlton on Finlay. The area is well known for its cafe culture and dining and is located only a short walk from the Carlton Gardens, The Royal Exhibition Building, The Melbourne Museum, the Old Melbourne Gaol and the State Library of Victoria.
The apartment is fully equipped with internal laundry facilities, a full size kitchen, split system heating and cooling and a balcony.
The lease has a 30 day owner usage subject to terms and conditions
LEASE DETAILS:
Current Rent: $393 per week ($20,439 per annum)
Next Rent Increase: 30/10/2018
Current Return: 6.28% Gross / Net 5.59%
Return as of 30th October 2018: $21,257 / 6.53% Gross
Return as of 30th October 2019: $22,107 / 6.78% Gross
Lease Terms: Lease to 29/10/2020 plus 1 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)
Approximate Owner Outgoings:
Council Rates: $995 per annum
Water Rates: Capped at $400 (Tenant pays anything above $400)
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $846 per annum
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