1009/96 North Terrace, Adelaide SA 5000

Currently managed by the owners as a short-term Holiday Rental, this viable investment property provided an amazing rental return of $49,959 per annum (gross) for 2023 already with a YTD income for 2024 of $49,789. That's yield return of over 13%!

Choose to lease the apartment through companies such as the Oaks Hotels and Resorts to meet the requirements for Stamp Duty Exemption (Subject to Revenue SA Approval). That's a huge saving of over $14,000! For further information please go to the RevenueSA website - Stamp Duty on Transfer of Real Property (Land).

If you're looking for a set and forget setup, the flexibility of this apartment offers so many other options. Lease to the Oaks Hotels and Resorts and other reputable companies or lease the apartment on a long-term tenancy agreement. Or, live in and enjoy a lap up a low maintenance lifestyle in one of Adelaide's best locations.

Everything the city has to offer is right at your doorstep! The exciting River Torrens Precinct, Adelaide Oval, and less than 500 metres to the Medical Precinct consisting of the new Royal Adelaide Hospital (RAH), South Australian Health and Medical Research Institute (SAHMRI), South Australian Health and Biomedical Precinct (SAHBP), Uni SA Health Innovation Building (HIB) and the Adelaide Health and Medical Sciences Building (AHMS).

First Class restaurants and bars are just a short walk away with gourmet shopping at nearby Central Markets and Gouger Street. Adelaide University, University SA and TAFE are all very close with secondary education zoning for Adelaide High School. Transport options easily accessible with the tram, Adelaide Train Station and major bus stops only a minute away.

Perfectly positioned on the 10th floor the apartment boasts stunning views over the city, Adelaide Hills and sunsets over the ocean. Fully furnished, the apartment comes with absolutely everything you could ask for as an investor or owner occupier. Inside the apartment consists of light filled open plan living and dining with neutral colour schemes and appealing decor throughout.

The kitchen is fully equipped with solid granite bench tops, quality fixtures and fittings and stainless steel appliances with a 4 burner gas cooktop, electric oven and dishwasher. The bedroom is excellent size with a king bed, side tables, built in robes and frosted glass sliding doors through to the two way ensuite complete with modern finishes.

Further features include a European style laundry with a washing machine, dryer and basin, ducted reverse cycle air conditioning, excellent security with a swipe card system, intercom and 24 hour reception in the foyer.

Recently revamped, the complex also provides free access of the indoor heated lap pool, sauna and gym. All of these excellent luxuries are maintained through the community fees.

Located directly next door in Secure Parking, car parks may also be purchased on a separate title for $55,000 or leased from $240 per month.

Be the first to inspect this excellent opportunity.

PROPERTY INFORMATION:

Certificate of Title - Volume 5859 Folio 119

Council - Adelaide City Council

Council Rates: $1,447.00 per annum (approx.)

SA Water Rates: $153.70 per quarter (approx.)

ESL: $331.25 per annum (approx.)

Community Fees
Admin Fund : $636.00 per quarter (approx)
Sinking Fund: $203.00 per quarter (approx.)