34/745 Whitehorse RoadMont Albert VIC 3127
Property Details for 34/745 Whitehorse Rd, Mont Albert
34/745 Whitehorse Rd, Mont Albert is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2009. The property has a floor size of 82m2.
Last Listing description (May 2019)
**INVESTORS ONLY**
Located within walking distance to The Box Hill Institute, Box Hill Hospital, Box Hill Central and Box Hill Town Hall, this apartment's location cannot be beaten. With all manner of public transport options such as Trains, Buses and a Tram stop out the front, guests and visitors will have no trouble getting around.
A 2 bedroom apartment with main bathroom and en-suite, full kitchen facilities, internal laundry facilities and balcony.
Year 1 - Add safety rail to shower/bath
Year 2 of Current Term - Stone overlay on Kitchen Benchtop
Year 3 of Current Term - Kitchen Joinery and drawer system, Stone splashback, re-tile kitchen floor
Next Term - Repaint Ceilings
Total cost remaining per refurbishment schedule $6401 which is subject to change.
Lease Details:
Current Rent: $507 per week ($26,388.45 per annum)
Next Rent Increase: 29th September 2019
Current Return: 6.87% Gross / Net 6.24%***
Increases as follows;
29/9/19: +2.5% - $27,048.16 / 7% Gross
29/9/20: +4% - $28,130.09 / 7.33% Gross
29/9/21: +4% - $29,255.29 / 7.62% Gross
29/9/22: +4% - $30,425.50 / 7.92% Gross
29/9/23: Market Review
Lease Terms: Lease to 28/09/2023 plus 5 x 5 Year options
Rent Increases: 2.5% in 2019 and 4% in 2020, 21, 22. Market review in 2023.
***Refurbishment costs not factored into Net Yield***
Approximate Owner Outgoings:
Council Rates: $961.25 per annum
Water Rates: $703.82 per annum
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $757.76 per annum
Property History for 34/745 Whitehorse Rd, Mont Albert, VIC 3127
- 10 Apr 2019Listed for Sale SOLD - $388,000
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About Mont Albert 3127
The size of Mont Albert is approximately 1.7 square kilometres. It has 5 parks covering nearly 2.4% of total area. The population of Mont Albert in 2011 was 4,954 people. By 2016 the population was 4,854 showing a population decline of 2.0% in the area during that time. The predominant age group in Mont Albert is 40-49 years. Households in Mont Albert are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Mont Albert work in a professional occupation. In 2011, 71.4% of the homes in Mont Albert were owner-occupied compared with 70% in 2016.
Mont Albert has 2,796 properties. Over the last 5 years, Houses in Mont Albert have seen a 14.96% increase in median value, while Units have seen a 15.04% increase. As at 31 August 2024:
- The median value for Houses in Mont Albert is $2,221,036 while the median value for Units is $806,688.
- Houses have a median rent of $775 while Units have a median rent of $565.
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