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If you have been searching for an affordable investment property, look no further. This bedsit apartment represents great value and must go on your list to inspect.
Located in a well presented complex called City Park is this ground floor unit. It is open plan, but unlike some other studio apartments it comes with a full kitchen, including an upright stove/oven, double sink and a full-sized fridge/freezer.
The living space is a large open plan area but has plenty of room to be able to fit in a queen bed, bedside tables, lounge and even a dining table and chairs. There is a large glass sliding door that opens onto a secure patio area, accessible only to five other units. This overlooks the lush gardens that are maintained by Body Corporate.
The bathroom is a good size and includes a laundry facility, complete with laundry trough. The toilet is separate to the bathroom area. There is also one allocated covered car parking space for this unit.
The Body Corporate has 39 apartments in total in the building with a mixture of two bedroom and bedsit units. The management is very hands on and the Body Corporate gardens and grounds are well maintained. This in turn has attracted great long term tenants and some owner occupiers in the complex.
This unit has a long-term tenant who has lived there for over seven years and would like to stay on. The rent is currently below market value at $165 per week.
The Body Corporate levies are:-
Administration Fund - $948.41 per annum
Sinking Fund - $249.99 per annum
Total Body Corporate Levies - $1,198.40 per annum
The Body Corporate has a healthy sinking fund ready for future works. As at 31st January 2018 the Body Corporate had:-
Administration Fund Balance $20,971.57
Sinking Fund Balance $127,299.13
Total Available Funds $148,270.70
The Body Corporate has plans to have the building repainted in the next 12 months and the funds are ready to complete these works, plus any other maintenance required.
The Council Rates and Excess Water is approximately $2,500 per annum.
This apartment is perfect for a set and forget investment. For further information or to arrange an inspection please contact either Linda or Katie.
*Stock Photos
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