Position, Position, Position!
This is a rare and exciting opportunity to acquire a boutique block of 9 apartments, all on one title.
* Extra rent due on current leases that will expire with the next 12 months - $16,000 approximately
'Tibouchina Highlife' is a stunning, well designed apartment complex, built in 2016 consisting of 9 beautiful residential apartments. Each apartment has been well appointed and comes with modern appliances, a stylish and functional kitchen, modern bathrooms and a large balcony area.
The complex is fully rented, highlighting the strength of the area and the appeal of the property. The building presents a first class investment opportunity, right in the heart of The Gold Coast. Generating an annual gross income of $230,796 per annum. The property also comes with significant depreciation advantages and assured capital growth in the future.
Apartment Specifics:
7 x Two bedroom, 2 bathroom, 2 car space units (ranging from 97m2 - 110m2)
2 x One bedroom, 1.5 bathrooms, 2 level sky home with 1 car space each (110mm2*)
Income + Expenses:
GROSS RENTAL INCOME: $220,740
Solar Electricity Generation: $10,056
TOTAL GROSS INCOME: $230,796
Expenses:
- GCCC Rates: $7,674pa
- GCCC Water + Sewer: $7,806
- Insurance: $4,578
- Electricity Bulk supply to common areas: $6,387
- Management Fee: $9,712
- Lift + General Maintenance: $6,920
TOTAL EXPENSES: $43,077*
NET RETURN: $187,719*
EXTRA RENT ON INCREASES - $16,000 (WITHIN 12 MONTHS)
Location:
Ideally located right on the G:Link Rapid Transit Line in Southport, adjacent to the CBD and only 450 metres to the stunning Gold Coast Broadwater and surrounding park lands. Other key locations within close proximity include:
* Aquatic Complex- 950 metres
* Australia Fair Shopping Centre- 500 metres
* G:Link Light Rail Station- 200 metres
* Woolworths, shops & restaurants in Sundale precinct - 350 metres
High calibre investment opportunities in high profile locations, like this, are very rare. Given the age and quality of the building, the strong financial performance and the ideal location in Southport, this is an opportunity not to be missed!
Please contact Robert Peel for a copy of the information memorandum with more details.
*Approx
Disclaimer:
Ray White has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Orchid Avenue Realty trading as Ray White Surfers Paradise Commercial divisions toward the recipient with regard to the use of this information and all information given is given without responsibility.
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