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All About Real Estate is proud to present to the market this fantastic investment opportunity. Situated in the CBD, this two bedroom self contained apartment is part of the City Gardens Holiday Apartments.
- Guaranteed Rental return of 6.3%
- Rent paid monthly in advance at $412 per week with 3% rise annually
- Registered lease on title with time remaining, 3 years plus additional options
- Options are 3 x 5 years options with a rent review to min 5% of valuation
- Body Corp $500 per quarter
- Council Rates $350 per quarter
This complex, consisting of 16, 2 bedroom apartments. This is leased long term for three years, with three more options of an additional five year period consisting up to 15 years in total. The rent is paid monthly in advance at $412 per week with 3% rise annually. Rental reviews every five years adjusted at 5% on valuation. Rents are paid monthly in advance.
These opportunities rarely come up for offer as this complex as been tightly held among the owners and this being the first up for sale in a ten year period, It shows you the value of the investment and its financial security.
These are ideal for clients setting this up as a super fund asset and providing income for a retiree.
The body corporate is self managed and fees are $500 per quarter and the only additional costs are council rates at $350 per quarter.
The onsite management team look after the common property and units,letting out for short term holiday and or business rental.
Central fully shaded lagoon style pool is set amid tropical gardens and a BBQ area with shade for added comfort.
Contents of the property are owned by the management of the complex. The apartment has recently installed a new inverter split system air conditioners, the bathroom has been renovated and an internal paint throughout is set for February 2017, with costs to be met by body corporate. Gross returns at 6.3%.
Council Rates: $1,400 Per Annum
Self managed Body Corporate: $500 Per Quarter
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