2/93 Woods Street, DARWIN CITY NT 0800$310,000
SOLID INVESTMENT ON SERVICED HOLIDAY APARTMENT GUARANTEED
Unit - DARWIN CITY NT
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.
– Current rent $395 per week or $1716.37 per month
This complex, consisting of 16, 2 bedroom apartments. The existing lease term has had an additional 5 years added, so its secure for 20 years in total. The rent is paid monthly in advance at $395 per week with an annual review.
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 $1400 per annum and the only additional costs are council rates at $1502 per annum. Net income is $17694 per annum ( 5.7% RETURN)
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: $1,465 Per Annum
Self managed Body Corporate: $350 Per Quarter
- 2 bed
- 1 bath