The highly sought after complex 'Crescent', 1 Osprey Close, boasts a premium quality build, low body corporate costs, and well maintained facilities; including underground parking, a BBQ pavilion, and a large 15 metre pool suitable for swimming laps, featuring seated spa Jacuzzi at one end. Residentially zoned, meaning that owners can reside, manage or let the property as they see fit.
Built in 2007, this is one of only 18 apartments in a boutique complex designed with convenience in mind, fitted in a high quality and timeless fashion, and kept well maintained ever since by Property Shop's Property Management team. Every apartment here is a carbon copy of the next, identical in size, layout and finish, varying only by mirror image floor plans.
Comprising 101 sqm of well proportioned living. Two spacious bedrooms with built in robes, an en suite shower room to the master, a second shared bathroom, and a laundry. The open plan kitchen, lounge and dining area opens out to a spacious balcony, enjoying a first floor breeze and an elevated westerly outlook over the pool area, perfectly placed to catch the warm hues of the sunset over the mountain ranges beyond. Sold unfurnished, ready for a new owner to put their own stamp on it.
A net return of 3.60 per cent, calculated honestly after body corporate levies, council rates and water, and management fees. Currently tenanted with a lease running to 30 September 2026 and appraised at $600 per week, making this an equally strong proposition for the investor or for the owner occupier looking to buy now and move in later.
Supporting a typical Port Douglas yield, Crescent has outperformed the broader Port Douglas unit market on capital growth. These apartments were changing hands in the mid $260,000s in 2021, and a sale within the complex earlier this year, not unlike the subject property, achieved $480,000. Close to 80 per cent growth, roughly double the suburb over the same stretch.
Being carbon copies, there is no renovation, no rare aspect and no premium floor plan doing the work in that figure. Nothing changed but the market itself. About as clean a measure of growth as this town offers.
Eighteen apartments, tightly held.
Limited inspection times, sympathetic to the needs of the tenants, and every expectation that this property will go quick!
