Under Offer
1
1
1
Description

Inner City King Studio - Perfect Getaway for Busy Professional - Approx. $437 p.w. Buy for $220K

Apartment - MILTON QLD

[If you want to physically inspect this apartment please phone 0432 00 33 55. Please also read the entire advertisement before contacting me].
This is the best value for money king-bed sized studio apartment on the market. **FIRST CLASS LOCATION** approx. 2.3 km to CBD and close to all amenities. This is the perfect “home away from home for work or pleasure”. Call the agent for more details to see if this property is right for you. For the pure investor, all the financial details for this property can be found at the end of this advertisement and the numbers post-COVID are impressive. Please note this complex was not inundated by water from the late February/early March 2022 floods.

• Looking to be close to the city for short-term work or pleasure? (approx. 2.3 km to CBD)
• Looking for a refreshing, no stress lifestyle right in the heart of the action?
• Do you travel to Brisbane for business or pleasure? Then stay for a couple of days, stay for a week, stay for a month. Have it rented out when you are not in Brisbane. Note you can not use this apartment as your principal place of residence, however owners have good rights if you wish to stay (call the agent for further information).
• Free secure Car Parking when the owner stays

Stay occasionally or more frequently or have it rented out via Airbnb. Work out an agreement with the professional on-site Cosmo Apartments Manager that works for you. So many choices are available.

Apart from the cracking location, the flexibility in short-term stays, the next best thing about this apartment is that it’s very affordable.

ABOUT THE LOCATION
With Roma St Station Precinct upgrade (includes cross-River Rail) and new world class Queen’s Wharf Brisbane both under construction, together with the bonus of the Olympic Games being held in Brisbane in 2032, this is a no brainer for the long-term savvy buyer.

• Located on trendy Park Road
• Free high speed WiFi recently installed
• Walk to everything, restaurants, cafes, bottle shop, shopping areas and cinemas.
• Brisbane’s most acclaimed Chinese restaurant “China Sea – Milton” is a resident in this complex.
• Do you love sports and entertainment – Suncorp Stadium is 1.0 km away
• Walk to the Milton Train Station (two stops to the city)
• Walk to Milton CityCat Terminal (one stop to the city, two stops to Southbank parklands and restaurants)
• Walk to the City (approx. 2.3 km – 30 min)
• Do you like walking, running, or cycling – fantastic riverside walkway is just 100 metres away

ABOUT THE APARTMENT
• Stylish 4.5 star king-studio apartment on Level 2 (of 5 Levels)
• Tasteful decor and furnishings
• Self-contained kitchenette complete with kitchenware & microwave
• Washing machine and cloths drier in the bathroom
• Sold fully furnished
• Private balcony
• Quiet location towards the rear of the complex away from Park Rd
• Airconditioned
• Free car parking available when owner stays
• Professionally managed by Central Cosmo Apartments if you choose
• Small gym and large sauna

FINANCIAL INFORMATION ON THIS PROPERTY (for the pure investor)
Net revenue (Paid to Owner) after rental management fees, cleaning fees and maintenance costs was:
April/May/June 2022 (Occupancy rate was 86%; 79 days out of 91 days) – Net Revenue was approx. $5,693; (Gross approx. $10,869). Net $437 pw, WOW – bookings are better than PRE-COVID as predicted). If extrapolated to 2022/2023, the net revenue is approximately $22,772 p.a.
Net revenue for 2018/19 ($16,160). NOTE: MOSTLY PRE-COVID (Gross revenue of $38,787).
Net revenue for 2019/2020 ($13,158) During COVID (Gross revenue of $28,787).
Net revenue for 2020/2021 ($12,610) DURING COVID (Gross revenue of $26,387)
Net revenue for 2021/2022 ($14,049) MOSTLY DURING COVID (Gross revenue of $30,397)

Note that because daily rental rates have been increased earlier this year by about 20% across all apartments, combined with the opening of our international borders to visitors, the net revenue is expected to increase by 10% for owners. In April and May 2022 the occupancy for this apartment (#211) was 79 days out of a total of 91 days. Net revenue of approx. $5,693 (Gross approx. $10,869) IMPRESSIVE.

Extra Expenses
Brisbane City Council Rates: Approx. $431 per quarter
Qld Urban Utilities (Water). Approx. $291 per quarter
Body Corporate Fees: Admin & Sinking Fund = $4,595.28 per annum (admin is $2,575.62 p.a. and Sinking Fund is = $2,019.66 p.a.)
Balance of Sinking Fund: $348,004 as of 14/06/2022.

Call or Text Jeff Smith on 0432 00 33 55 to arrange your inspection (or virtual tour) of this fabulous apartment.

Property Features
  • Apartment
  • 1 bed
  • 1 bath
  • 1 Parking Spaces
  • Garage
Jeff Smith
Principal
Mob: 0432 00 33 55

Highly Accomplished Sales Professional with Proven Results!

Imagine a customer focused agent, that is all about your needs. Dr Jeff Smith is the Real Estate Doctor that offers his clients exemplary service comprising of, full involvement, clear communication, strong work ethic and processes, highly motivated to go above and beyond on every occasion, providing sound recommendations, and overall will deliver on what he has promised.

With Jeff you get a bundle of welcome surprises; not only does he have the experience, skills, knowledge, and capabilities to get great results for you in Real Estate (25+ years’ experience) he has numerous qualities and life experiences coupled with a friendly easy-going manner. These attributes, coupled with his complete professional approach, allow him to engage and connect quickly with people to establish commonalities that inspire credibility and trust – qualities you expect and demand when considering someone to provide advice and expertise regarding your greatest assets.

Jeff is well balanced and grounded in his upbringing in a family business culture where care and service to others is the norm. His school education was in central Queensland before he moved onto university in Townsville and then Brisbane where he received science and business qualifications (marketing being a speciality) and awards. He has worked and lived on three continents. He is a passionate people person and has been involved in establishing several non-for-profit charities the most recent being MindFx Limited that supports better recovery pathways for young adults with mental illness and drug miss-use.

Jeff is one who thinks outside of the box – he’s innovative, analytical, creative and opportunist, qualities that have been developed over many years. Jeff’s social and professional skills will provide you with a highly tailored professional solution. Jeff has diverse firsthand experience with building new homes, pre- and post-war homes, renovations, subdivisions, land sales, multi-dwellings developments and apartments.

From 2014-2020 Jeff’s real estate sales skills and experience were refined and expanded at one of the most highly acknowledged and successful real estate firms in Brisbane, Ray White Paddington, the number two Ray White offices in Queensland, under the Principal and leadership of George Hadgelias. In 2021 Jeff started his own highly professional boutique real estate agency, The Real Estate Doctor, to continue to serve his clients with the same exemplary service. As many of Jeff’s clients will attest to, nothing is ever too small, too big or a problem for Jeff, he gets it done.

“Call or email me and let’s get the conversation started about you and your Real Estate needs and expectations; I am here to provide you with the very best professional help you will ever experience”

Read More
  • This field is for validation purposes and should be left unchanged.