113/377 Nepean Highway, Frankston VIC 3199

This extra-large and bright one bedroom apartment offers a long term lease, a high 8.5% return and reduced outgoings.

*** PLEASE NOTE: THIS PROPERTY IS SUBJECT TO A LONG TERM LEASE AND IS FOR INVESTORS ONLY ***

Quietly positioned at the rear of the complex the elevated ground floor location offers a leafy garden aspect to the reserve beyond. The apartment boasts high ceilings, a huge living/dining area opening to the garden terrace, excellent natural light and a fully equipped kitchen complete with quality appliances plus reverse cycle air-conditioning. The generous king sized bedroom has built in robes and opens to the a stylish well-appointed bathroom with laundry facilities. The building is superbly maintained and offers modern amenities, including an intercom system, a heated pool, a BBQ area, and dedicated parking on title.

Rental Income: $19,478.14 pa / $375 pw
Rent Increases: Annual 4% increase thereafter each April 11th
Annual Return: 8.5% Gross
Lease Expiry Date: April 10, 2025
Lease Extension Option: 4 x 5 years

Tenant (Quest) outgoings:
Owners Corporation administration fund
Water usage
Insurance
General maintenance

Owners outgoings:
Owners Corporation maintenance fund: $453.75 pa
Council rates: $1,211.95 pa
Water rates (excluding usage): $666.40 pa

While great care has been taken in assembling the information presented above, it is important to emphasise that these details are provided for informational purposes only and should not be considered as representations by the Owner or the Agent.
Please contact Martin Russell on 0417 005 302 to arrange an inspection.