A freehold apartment for under $120k?!?
Supersized investment with a 10%+ net return - just try and beat that! You'll need to be a cash buyer for this as the remedial issues are currently being fixed - these repairs have no impact on occupancy so jump on board and ride the gravy train!
At 8 Scotia Place issues have been found with the cladding that need to be fixed - this is being completed through repairs and maintenance and in the meantime with rents not being effected the buy price certainly is.. massively! You'll need to give it a bit of tender loving care before it's rented (ask for quote on full interior renovation).
What does this mean for you? A whopping 10%+ net return off a measly $119k and potential capital gains once all is complete should be massive.
The owner requires a prompt sale, as such is leaving room, huge room for profit after remedial costs.
Located down a private street overlooking green and leafy Myers Park, with a park view and a development on each side of the road, future values are going to go through the roof. Added to that you have very low body corporate fees and rates and a Freehold title. This little stunner is peaceful and private but minutes to transport, Universities, amenities and the CBD.
+ 30sqm, 1 bedroom & 1 bathroom
+ Body Corp $3,271.23 per annum
+ Rates $736.07 per annum
With the current average sale price in the city of over $10,000 per sqm and new developments heading toward and past $15,000 per sqm, try this at under $4,000 per sqm.
Don't delay, call us now!
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