304/18 Finlay Place

Carlton VIC 3053

**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: 30/10/2018Current Return: 6.49% Gross / Net 5.78%Return as of 30th October 2018: $21,257 / 6.74% GrossReturn as of 30th October 2019: $22,107 / 7.01% GrossLease Terms: Lease to 29/10/2020 plus 1 x 5 Year optionsRent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)Approximate Owner Outgoings:Council Rates: $995 per annumWater Rates: Capped at $400 (Tenant pays anything above $400)Body Corporate Administration fee: Paid by tenantBody Corporate Sinking fund: $846 per annumFeatures include: Air conditioning,Built in wardrobes,Internal Laundry,Bath,Heating,Dishwasher,Balcony / Deck