With low strata at $829 per quarter, 6% gross rental return, what more could you ask for when it comes to an excellent rental opportunity? Add to this, you will be earning approx. 7% - 8.5% gross rental return in 6 years when the property can be leased at full market rent.
This studio apartment offers an urban oasis in Penrith, within the vibrant Thornton Estate. With a north facing aspect and convenience at your doorstep, it's a perfect match for those seeking easy living. The property is just moments away from Penrith station, multiple dining options, and Westfield shopping, making city access as seamless as your daily routine.
- North facing, covered balcony on the third floor
- Split system air con with blinds throughout
- Integrated fridge/freezer, LED lighting plus Fisher & Paykel dishwasher
- Internal laundry with washer/dryer combo and large bathroom
- Mirrored built-in robes, floorboards throughout
- Exclusive resident roof-top facilities including media/games room, dining/meeting room with fully equipped kitchen
- Rooftop yoga area, ping-pong table, dedicate pet area and BBQ area
- Built in 2022 with on-site building manager and ground level retail
With the 2nd airport coming by 2026 (22km away) and all the population, infrastructure and jobs growth, a new generation is discovering the magic of Penrith with its world-class shopping amenities including Westfield, an excellent café and dining scene plus an express train from Penrith to Central in 4 stops (48 mins). Residents of Thornton Estate are right next door to Penrith train station and Westfield and have access to Ron Mulock Oval, walkways and cycle paths that lead to Penrith's CBD, as well as the retail shops, community playground and BBQ area, with a free monthly community BBQ.
This apartment requires an accredited affordable housing provider to manage the leasing until 2032. Post 2032 the apartment can be leased privately at full market rent, offering approx. 7% - 8.5% gross return at $480 - $580pw rent, or lived in, which raises the sales value of the property immediately by approx. 10%.
The 47sqm internal area should appeal to bank lenders for this very affordable investment opportunity.
Outgoings:
Water Rates: $170 p/q approx.
Council Rates: $483 p/q approx.
Strata Levies: $829 p/q approx.
