$325,000
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1
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Description

Inner City Getaway Apartment with Fantastic City Views. Ideal for those who travel to Brisbane.

Apartment - MILTON QLD

[If you would like to physically inspect this property please call 0432 00 33 55 – please read the whole advertisement before contacting me]
• Are you looking to cut your commute time down from the Gold or Sunshine Coast (or elsewhere out of Brisbane)?
• Do you travel to Brisbane regularly for work, play or study?
• Do you want to solve some of your lifestyle issues and want an inner city pad close to all amenities and the action at a very affordable price?
• This is the perfect home away from home.
• Spectacular one bedroom king apartment (58 sqm plus free space for your car).
• Located on level three of a five level boutique apartment complex.
• FIRST CLASS LOCATION AND VIEWS (see location photos in this advertisement).
• Note this is not an apartment you can live in as your principal place of residence, however owners have excellent options to stay if they wish.
• Free secure car parking when the owner stays.
• Please note this complex was not inundated by water from the late February/early March 2022 floods.

When not using your apartment, have the friendly onsite Cosmo Staff rent it out in the short-term rental pool for you. So easy. Cleaning and maintenance no problem – the on-site management will look after that for you also. Alternatively rent it out as an Airbnb. Apart from the cracking location, space inside and great city views, 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 (home to last year’s NRL Grand Final) 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 one bedroom king apartment of second top floor
• Private balcony with fantastic views of the city
• Free high speed WiFi recently installed
• Rare, free car parking available when owner stays
• Tasteful decor and furnishings
• Self-contained kitchenette complete with kitchenware, two hotplates & dishwasher
• Washing machine and drier in bathroom
• Sold fully furnished
• Huge north-east facing private balcony
• Airconditioned
• Small gym and large sauna
• Professionally managed by Central Cosmo Apartments if you choose

FINANCIAL INFORMATION ON THIS PROPERTY
If you are just a pure investor (or only like to stay a couple of days a year) then here are all your numbers.
For April/May/June 2022 the occupancy rate for this apartment was 88% (80 days out of a total of 91 days). IMPRESSIVE. Higher than pre-COVID occupancy rate of 60-75%. After rental management fees, cleaning fees and maintenance costs, the net revenue for this quarter was $4,770 ($367 per week) out of a gross revenue of $9,029.

After rental management fees, cleaning fees and maintenance costs, the Net Revenue (Paid to Owner) for the last four financial years was $15,487 (FY 2018), $14,215 (FY 2019), $13,104 (FY 2020) and $17,787 (2021). The gross revenue for 2018, 2019, 2020, and 2021, respectively, was $31,831, $30,240, $26,122, and $28,810.

Note that because the daily rental rates have increased (about 20% across all apartments) earlier this year combined with the opening of our international and interstate borders to visitors, the net revenue is showing great signs of increasing significantly for owners. In April, May, and June 2022 the occupancy rate for this apartment was 88% (80 days out of a total of 91 days) compared with 60-75% previously. IMPRESSIVE.

Extra expenses
Brisbane City Council Rates: Approx. $430 per quarter
Qld Urban Utilities (Water). Approx. $278 per quarter
Body Corporate Fees: Admin & Sinking Fund = $4,744.72 per annum (admin = $2,659.38 + Sinking Fund = $2,085.34)
Balance of Sinking Fund: $348,004 as of 14/06/2022.

For further information on this property, please call (0432 00 33 55) or email Jeff Smith. Want a virtual tour no problems. Watch the video also online.

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”

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