$390 p.w. Rent - Own it for $218K. Perfect Getaway Home in First Class Location!
Apartment - MILTON QLD
If you plan to attend an open home please call 0432 00 33 55 before you come.
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. 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.
• Free secure Car Parking when the owner stays
Remove the hassle of commuting. Your fully furnished self-contained spacious apartment in a cracking location is waiting for you. 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
• 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
• 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 after rental management fees, cleaning fees and maintenance costs was:
April 2022 (30 days occupancy – Net Revenue was $1,692; $390 pw, WOW – bookings are better than PRE-COVID)
Net revenue for 2018/19 ($17,052 for 287 days occupancy). NOTE: MOSTLY PRE-COVID (Gross revenue of $39,336).
Net revenue for 2019/2020 ($13,007 for 223 days occupancy) During COVID (Gross revenue of $29,002).
Net revenue for 2020/2021 ($12,537 for 236 days occupancy) DURING COVID (Gross revenue of $26,497)
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.
Brisbane City Council Rates: Approx. $431 per quarter
Qld Urban Utilities (Water). Approx. $272 per quarter
Body Corporate Fees: Admin & Sinking Fund = $4,595.28 per annum (admin = $2,575.62 + Sinking Fund = $2,019.66)
Balance of Sinking Fund: $313,265 as of 11/02/2022.
Call or Text Jeff Smith on 0432 00 33 55 to arrange your inspection (or virtual tour) of this fabulous apartment.
- 1 bed
- 1 bath
- 1 Parking Spaces