Positioned in an ultra-convenient location just a 5-minute walk to Park Beach Plaza, close to public transport, and only a 15-minute stroll to the Beach, this neat and tidy renovated two-bedroom, one and half bathroom apartment presents an excellent opportunity for investors seeking an established, low-maintenance asset with immediate income.
• Approx. $60,000 in capital improvements completed in the past three years
• Renovated kitchen plus updated paint, flooring and lighting throughout
• New hot water system installed, plus separate laundry with additional toilet located off the carport.
• Long-term and exceptional Community Housing tenant in place at $546.50 per week on month-to-month lease, with annual rent increase permitted each July.
• Complex improvements include CCTV, new lighting, new gutters and repaint in 2023
• Walking distance to Park Beach Plaza Shopping Centre, transport and the beach.
The complex itself has also undergone significant improvements, including CCTV installation, replacement of all common lighting, new gutters, and a full external repaint completed in 2023. With an approximately 50/50 mix of owner-occupiers and tenants, the complex offers a balanced and well-maintained environment.
Adding to its appeal is an exceptional long-term tenant already in place through Community Housing, currently paying $546.50 per week, with annual rental increases permitted each July through the Department of Justice. This makes the property an attractive set-and-forget investment with reliable income and built-in future growth potential.
Council Rates: $2,629 pa (approx.)
Strata Fees: $2,404 pa (approx.)
Land Size: 126 sqm (approx.)
Zoning: R1
DISCLAIMER: The information contained in the advertising of this property is based on information provided to the agents, and the vendor and agents expressly disclaim any liability arising therefrom. The accuracy of the information cannot be guaranteed, and prospective purchasers should make their own enquiries and form their own judgement as to these matters.
