Sold on 30th of March 2012

Address Available on request, 48/21-39 Bentham Street, ADELAIDE SA 5000

1 Bed
1 Bath
Property Features

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*Under Contract*

Brilliant investment opportunity in Franklin Central Apartments with excellent guaranteed returns, low outgoings and depreciation benefits; this large one bedroom apartment was recently modernised and refurbished with a $7,000 internal upgrade. It is fully managed on a secure lease; note that you cannot live in this apartment until lease expiry (likely Dec 2018), purchase for investment purposes only.

Feature benefits:

* $14,021 rental return per annum on a long term lease ($1,168.47 p/month)
* Annual CPI increase in income
* Depreciation on refurbishment/plant capital allowance approximately $1,308 perannum
* Approx. $1779 building write off allowance per annum (2.5% for 40 years)
* Discounted stay in the hotel
* Reception open from 7am -11pm
* Cafe in foyer
* Nestled in quiet lane off Franklin Street (Bentham Street)
* Dishwasher & Microwave
* High speed internet
* Foxtel
* Conference facilities

A very well presented boutique hotel with great reputation and client base. Please call to arrange an inspection – out of respect for hotel operations, weekday lunchtimes are ideal.

Council Rates = $933 p/year
Size = 45sqm approx
Strata / Community Fee = $382 p/quarter
SA Water = $180 p/quarter
(Management fees already paid)
Management Agreement in place until Dec 2013 (plus further option to 2018)

Note: you must seek your own advice in relation to tax benefits and depreciation schedules, photos and floor plan are library pictures, all apartments are identical in furnishings, inspection recommended.


Ouwens Casserly

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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.