6.3% Net Rental Return in Adelaide CBD
**INVESTORS ONLY**
Located in the heart of the Adelaide CBD, this spacious two bedroom (approx 81m2) apartment awaits your investment. Located within close proximity to Adelaide Market, Casino, University and Adelaide Oval, the location is hard to beat. With a long term lease to Quest and rental increases of 4% per annum all the way to 2023, this is one apartment which will sit nicely in your investment portfolio.
Lease Terms:
Current Rent: $789 per week ($41,074.82 per annum)
Current Return: 9.1% Gross / 6.3% Net
Lease Terms: Lease to 31/10/2018 plus 3 x 5 Years (Next option already exercised)
Rent Increases: 4% per annum until 2022 (Next increase 1/11/2015) (Next market Review - 1/11/2023)
Outgoings:
Council Rates: $1602 p/a
Water Rates: $982 p/a
Body Corp/Strata Fees: $9764 p/a
Apartment is approximately 81m2 internal
**Please note - apartment photos are for apartment 803 which is an identical lot to apartment 603**