Boutique Residential Apartment Building - Fully Leased - 9 Modern Apartments
30 Lather Street, Southport, QLD 4215
Position, Position, Position
This is a rare and exciting opportunity to acquire a boutique block of 9 apartments, all on one title.
'Tibouchina Highlife' is a stunning, well designed apartment complex, built in 2016 consisting of 9 beautiful residential apartments. Each apartment has been well appointed and comes with modern appliances, a stylish and functional kitchen, modern bathrooms and a large balcony area.
The complex is fully rented, highlighting the strength of the area and the appeal of the property. The building presents a first class investment opportunity, right in the heart of The Gold Coast. Generating an annual gross income of $230,796 per annum, with a rental increases of $5,000 due in July. The property also comes with significant depreciation advantages and assured capital growth in the future.
Apartment Specifics:
7 x Two bedroom, 2 bathroom, 2 car space units (ranging from 97m2* - 110m2*)
2 x One bedroom, 1.5 bathrooms, 2 level sky home with 1 car space each (110mm2*)
Income + Expenses:
GROSS RENTAL INCOME: $220,740
Solar Electricity Generation: $10,056
TOTAL GROSS INCOME: $230,796
Expenses:
- GCCC Rates: $7,674pa
- GCCC Water + Sewer: $7,806
- Insurance: $4,578
- Electricity Bulk supply to common areas: $6,387
- Management Fee: $9,712
- Lift + General Maintenance: $6,920
TOTAL EXPENSES: $43,077*
NET RETURN: $187,719*
Location:
Ideally located right on the G:Link Rapid Transit Line in Southport, adjacent to the CBD and only 450* metres to the stunning Gold Coast Broadwater and surrounding parklands. Other key locations within close proximity include:
* Aquatic Complex- 950* metres
* Australia Fair Shopping Centre- 500* metres
* G:Link Light Rail Station- 200 metres
* Woolworths, shops & restau...