24/741 Whitehorse Road, Mont Albert, Vic 3127

14 DAYS OWNER USAGE PER ANNUM!
UNDER LONG TERM LEASE WITH QUEST APARTMENT HOTELS.

1 bedroom, 1 bathroom apartment, with outdoor entertainers' balcony and carpark on title.
An opportunity to secure a 1-bedroom apartment in one of Melbourne's most desired chip suburbs, Mont Albert.
Updated with new carpet and paint in 2019, the apartment features a spacious and open floor plan, with integrated kitchen, meals and family room opening to an outdoor balcony.
A good-sized master bedroom with robes and main bathroom with laundry facilities complete with a secure underground carpark on title, owner has also just installed new hot water system.

Lease Details:
Rent: $26,206 pa / 503 pw (As of September 2024)
Return: 8.82% gross / 7.95 gross**
Increases as follows:
Sept 2025 + 4% = $27,254-
Sept 2026+ 4% = $28,344-
Sept 2027+ 4% = $29,478-
Sept 2028- Market Review.
Leased to: 28/09/2028 plus 4 x 5 Year options
Rent Increases: 4% pa market review each 5th year.
*** Please note refurbishments are due ***

Currently scheduled to commence refurbishments, the cost will be $24,600 + GST and upon completion will provide the purchaser with a fully refurbished kitchen and bathroom- increasing the assets value and providing tax benefits.
Scope of works:
Demolition of bathroom, new plaster, waterproofing and tiling
New vanity, mirror, tapware sinks and install walk in shower with frameless screen.
New kitchen, cabinets, splashback sink and tapware.
Kitchen cabinetry, benchtops and full bathroom upgrades, tapware and walk in shower- Quotation approved $24,600 + GST.
Please telephone me for more information and yields including refurbishment.

Located within the blue chip leafy suburb of Mont Albert and walking distance to Box Hill's Institute, Hospital, Town Hall, and Westfield Shopping precinct, this one bedroom, one bathroom investment will impress with its underground secure carpark and outdoor balcony.
With an endless array of Box Hill Centro Restaurants and eateries all within walking proximity and public transport options including train, bus and tram at your doorstep it boasts an unbeatable location.

Approximate Owner Outgoings:

Council Rates: $1090.00 pa
Water Rates: $736.00 pa
Body Corporate Administration Fee: PAID BY QUEST MONT ALBERT
Body Corporate Sinking Fund: $855.00 pa