502/60 Park Road, Milton QLD 4064

Top Floor Inner City Apartment with Cracking City and River Views. This is one apartment that will not disappoint, so book your private inspection today. Ideal for frequent business/leisure travellers to Brisbane and savvy investors. Why pay for accommodation when you can stay in your own apartment and reduce your costs dramatically. Fantastic Location! Extraordinary convenience with spectacular city and river views. This is the perfect getaway home or business accommodation for busy people who want comfort, convenience and lifestyle in a fantastic location that offers so much. This is a no brainer for the smart savvy buyer who wants lifestyle more than anything else. Do the math.

This apartment is ideal for an individual or couple that come to Brisbane for work or pleasure and want their own place rather than staying at a hotel or friend's place. Stay whenever you need it; stay for a weekend, stay mid-week, or stay for a month. When not using your apartment, have the friendly professional onsite Cosmo Staff rent it out in the short-term rental pool for you or AirBnB it. So easy. Cleaning and maintenance no problem, they will also look after that for you. You will be surprised at how much you will save by not paying regular hotel accommodation in the CBD or close by. Join the others who have recently purchased in the Cosmo Apartments for this very reason (to save you money and make life that much more enjoyable). Call or email today to learn more. Please note, you can't use this property as your principal place of residence, however owners have good rights - call the agent for further details.

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, iconic hotels, cafes, bottle shop, shopping areas and cinemas.
• 15 minutes drive to the Brisbane domestic airport (less to the international airport)
• Brisbane's most acclaimed Chinese restaurant "China Sea - Milton" is a resident in this complex.
• Do you love sports and entertainment - Suncorp Stadium is 1.0 km away
• Walk to the Milton Train Station (two stops to the city)
• The Milton CityCat Terminal is 150 metres away (one stop to the city, two stops to Southbank parklands, restaurants, museum, performing arts and much more)
• Walk to the City (approx. 2.3 km - 30 min)
• Less than an hour's drive south or north to world class beaches
• Do you like walking, running, or cycling - fantastic riverside walkway is just 100 metres away

ABOUT THE APARTMENT
• Stylish 4.5 star one bedroom apartment on the top floor (fifth floor) of boutique apartment hotel
• 45 sqm of living plus free use of the secure carpark when the owner stays.
• Private balcony with fantastic views of the city and Brisbane river
• Free High speed Wi-Fi
• Rare, free car parking available when owner stays
• Tasteful decor and furnishings
• Self-contained kitchenette
• Hideaway washing machine and clothes drier in bathroom
• Sold fully furnished
• Airconditioned
• Small gym and large sauna
• Professionally managed by Central Cosmo Apartments

FINANCIAL INFORMATION ON THIS PROPERTY

Based on expenses and income figures for Oct, Nov, Dec 2023, Jan & March 2024, the net revenue for #502 is $399 per week (at an occupancy rate of about 90%) after rental management, cleaning, and maintenance costs. The gross revenue from paying guests for this five month period was $12,697 and the net to owner was $8,773 after management, cleaning and maintenance costs. Based on these figures (and those from similar apartments in this complex that this agent has sold), it can be confidently predicted that the amount "paid to owner" for 12 months is approximately $21,000 - $25,000.

Other Outgoings
Brisbane City Council Rates: Approx. $420 per quarter
Qld Urban Utilities (Water). Approx. $280 per quarter
Body Corporate and Insurance Fees: Admin ($5,937 p.a.) & Sinking Fund ($776 p.a.) and Insurance ($466 p.a.) = Total of $7,179 per year
Balance of Sinking Fund: $265,788 as of 6 March 2024.

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