Sold on 31st of March 2014

Address Available on request, 25/21-39 Bentham Street, ADELAIDE SA 5000

2 Bed
1 Bath
Sold $228,000
Property Features

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Fantastic Investment Opportunity

An investment opportunity in ‘Franklin Central Apartments’ with high guaranteed returns, low outgoings, plus depreciation benefits; the apartment was recently modernised and refurbished with an internal upgrade. It is fully managed on a secure lease until 2017 (with rights to renew); note that you cannot live in this apartment until the lease runs out.

What we love about this property:

* Boutique apartments with niche clientele, rather than generic high-rise
* 62 sq/m of living space
* Proven long term business and management team
* $15,599.16 per annum on a secure long term lease ($1,299.93 p/month)
* Annual rent increase (CPI or agreed as per lease)
* Depreciation on refurbishment & plant and capital allowances
* Building write off allowance per annum
* Discounted stay in the hotel
* New cafe in foyer
* Nestled in quiet lane off Franklin Street (Bentham Street)
* Dishwasher & Microwave
* High speed internet
* LCD TV
* Foxtel
* Conference facilities

A well presented boutique hotel with a great reputation and client base. When comparing investment properties, consider the whether the income is fixed – this property does not rely on pooled occupancy revenue for your income.

Please call or enquire to arrange an inspection – out of respect for hotel operations, weekday lunchtimes are ideal and allow management to continue to generate revenue. Make an offer!

Outgoings:
Council $1,199.65 per annum
SA Water $202.88 per quarter
ESL $311.65 per annum
Body Corporate $529 p/quarter (inc. sinking fund of $109)

Note that you must seek your own specific advice in relation to tax benefits and depreciation schedules.

Agent

Ouwens Casserly

Sales & Property Management

Looking to sell in
ADELAIDE?

Ouwens Casserly Real Estate is one of South Australia’s largest privately owned residential and development real estate agencies. If you are looking for a real estate agent in ADELAIDE, then we can help you.