If you're looking for a positively geared investment then this could be the one!
If you purchase this property at full ask for $320,000 and pay a 10% deposit you will be borrowing $290,000 which at a 4% interest rate equates to monthly payments of approximately $1385 per month. The rental return for the apartment has most recently been $450 per week or $1870 per month. Other investors within the serviced apartments pool have been receiving in excess of $2400 per month. This rate of return is rarely found in apartments these days and makes it a must see for this reason.
Perfectly located halfway between Manuka and Kingston shops, across the road from Manuka Oval and walking distance to the Parliamentary Triangle, this ground floor one bedroom apartment is in the best location available for an apartment in Canberra. You will be at the doorstep of Canberra's best bars and eateries, a short stroll to Lake Burley Griffin and a bike ride to Parliament House.
Stepping inside you will be impressed with the compact yet functional floorplan that the property offers. It is solidly construction given its era and the courtyard really sets it apart. The outdoor area captures lots of afternoon sun and has direct street entry to avoid your fellow neighbours.
The complex makes for a great investment giving its proximity to local businesses and government departments. This property has been used as a fully-furnished rental and has been averaging $450 per week for 12 month tenancies. The furniture can all be included within the sale so you can begin to reap the same rewards our owners have been.
The property comes with one secure car space and there is an outdoor pool in the complex which is flooded with summer sun.
In summary:
Perfect Inner South location Walking distance to Manuka, Kingston and Lake Burley Griffin Great rental return in relation to asking price Courtyard for entertaining Swimming pool Sold fully-furnished *own investigations need to be made regarding what mortgage rate you are elliagable for and the calculations do not cover all bills and charges.
