6% Net Rental Return
8/741 Whitehorse Road, Mont Albert
**INVESTORS ONLY**
Located within walking distance to The Box Hill Institute, Box Hill Hospital, Box Hill Central and Box Hill Town Hall, this apartment's location cannot be beaten. With all manner of public transport options such as Trains, Buses and a Tram stop out the front, guests and visitors will have no trouble getting around.
The apartment is spacious and consists of an open plan living/dining room, fully equipped kitchen, a bathroom with laundry facilities, private balcony and a car park on title.
Lease Details:
Current Rent: $398 per week -$20,739 pa
Current Return: Return: 6.76% Gross / 6.07% Net
Rent Increases as follows:
September 2019 - $21,569 - 7.06% gross
September 2020- $22,432 - 7.31% gross
September 2021 - $23,329 - 7.61% gross
September 2022 - $24,262 - 7.91% gross
September 2023 - Market Rent Review
Lease Terms: Lease to 28/09/2023 plus 4 x 5 year options
Rent Increases:
4% yearly with market rent reviews every 5 years (next due 2023)
**Refurbishment costs not factored into net yield**
Approximate Owner Outgoings:
Council Rates: $766.95 per annum
Water Rates: $710.82 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $631.47 per annum
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