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POTENTIAL GROSS INCOME OF $140,000pa
- 1 Bed
- 1 Bath
A unique investment opportunity is available here with both massive cash flow AND built in capital gains. On offer is a variety of 6 different FREEHOLD apartments in the Ascent complex located at 149 Nelson Street.
304 - 41sqm one bedroom
528 - 48sqm two bedroom
611 - 31sqm one bedroom
604 - 41sqm one bedroom
705 - 41sqm two bedroom
707 - 41sqm one bedroom
The vendor has decided to sell all 6 units through way of tender and make no mistake - these MUST be sold.
Based on our rental appraisals the potential gross income is circa $140,000 per annum.
Body corporate costs are extremely reasonably and overall outgoings are low making the net return an attractive prospect.
The building has recently had extensive remedial work carried out to fix weather tightness issues and a new CCC has been issued.
There is some long term maintenance still to be carried out but this has not effected the new code of compliance and involves just enclosing apartment accessways/breezeways.
As a result of this remaining maintenance these apartments WILL be sold significantly below market value.
The location of this complex is fantastic, a short walk to the CBD, SKY City, Freeman's Bay and the Waterfront, no car necessary.
Next door there are brand new developments selling comfortably over $12,000 per square meter and in the surrounding area, which makes these units cheap.
Development is going on all around with new apartment buildings, sky city convention centre and city rail links all under construction nearby.
The vendor has committed to other projects and these MUST be sold.
Tendor welcome on one, all or any combination of the 6 apartments.
Please contact Ryan or Mitch for a full information package.