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
• 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.
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.
- 1 bed
- 1 bath
- 1 Parking Spaces