26/1 Chester Court, Manunda QLD 4870

When looking for an investment property there are a number of factors to consider. These include location, quality of the property, rental return, and likely hood of growth in the area. For this property, it ticks all the boxes.

This apartment is located only 100m from Raintrees shopping centre, 1km from Trinity Bay High School and only a little bit further and you are in the Cairns CBD. Every convenience you could ask for really is within arms reach.

The property is extremely low maintenance with tiles throughout and a well maintained body corporate. With ample storage throughout, air-conditioning in the bedroom and a lock up garage this is a property a tenant will love.

Being centrally located and close to all amenities this property has wide appeal to prospective tenants. There is a fantastic tenant in place currently paying $195/week.

Rental yields for Manunda have drastically grown in the last 12 months and rental vacancies are at an all-time low. Combined with this the future is looking bright for the Cairns economy and the local property market. There are several large developments under way in the Cairns CBD, including the construction of 3 new hotels. The tourism industry continues to improve year or year and the Cairns economy is diversifying with the city securing major Navy contracts and becoming an education hub with Central Queensland University and James Cook University continuing to expand.

Properties of this quality are getting harder to find so do not miss your opportunity to secure this one.

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THE FACTS
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Year built: 1992
Unit size: 65m
Current rent: $195/week
Market rent: $200/week
Body corporate fees: $2,458pa
Council rates: Approx $2,400pa
Sinking & admin fund balance: $86,000