110/18 Mountain Ash Drive, Frankton, Otago

Sold

110/18 Mountain Ash Drive, Frankton, Otago

$229,000 + GST (if any)

30 m²

Apartment

•

30+ days on the market

What's around 110/18 Mountain Ash Drive

Fantastic Long-Term Investment - 5% + net return

Easy care investment property with a 30-year commercial guarantee which is currently returning approximately a 5% + net return. Located in one of Queenstown's most active growth areas in regard to apartment and unit development. The La Quinta Hotel is located in Remarkables Park just a short walk to Queenstown Airport and has all amenities right on the doorstep for guests including shopping, restaurants, walking and cycling tracks and much more. The property is fully furnished and has a wonderful welcoming reception area and an onsite cafe and gym. This property is priced to sell and the market is on the move so prompt enquiries are recommended. Key investment information: • Commercial Guarantee: 30 years from the date the hotel opened, with review periods based on 15 + 5 + 5 + 5 years • A 2% annual rental increase • Currently returning a gross rent amount of $1,794.69 inc. GST per month (Approx. 5% + net) • Fully furnished studio apartment • Consistent payments paid directly into your bank account on a monthly basis • A management franchise with a proven international track record • 10 days free use per annum for owners For Sale: $229,000 + GST (if any). View Information Memorandum here: https://bit.ly/4dqHav8