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Prime Investment and Live in Opportunity.
Move straight in and enjoy all the advantages of no maintenance living in this fantastic location or reap the rewards of the viable rental returns on offer through a choice of reputable management companies. Currently leased to the Oaks Hotels and Resorts for a guaranteed rental return of $484.00 per week ($2,097.33 per month). That's a gross return of nearly 9% - Wow!
It gets even better! This apartment meets the requirements for Stamp Duty Exemption (Subject to Revenue SA Approval). For further information please go to the RevenueSA website - Stamp Duty on Transfer of Real Property (Land)** That's a saving of more than $10,000!
The location is fantastic, directly opposite the iconic Adelaide Oval, Convention Centre and the exciting River Torrens Precinct. Located less than 500 metres away is the expansive Medical Precinct consisting of the new Royal Adelaide Hospital (RAH) NOW OPEN, South Australian Health and Medical Research Institute (SAHMRI), South Australian Health and Biomedical Precinct (SAHBP), Uni SA Health Innovation Building (HIB) and the Adelaide Health and Medical Sciences Building (AHMS).
First Class restaurants and bars are just a short walk away with gourmet shopping at nearby Central Markets and Gouger Street. Adelaide University, University SA and TAFE are all very close with secondary education zoning for Adelaide High School. Transport options easily accessible with the tram, Adelaide Train Station and major bus stops only a minute away.
This fully furnished, deluxe one bedroom apartment comes well equipped with a fully contained kitchen and light filled open living and dining which flows through to the fill width balcony and stunning views over the city, Adelaide Hills and Summer sunsets over the ocean.
The bedroom is excellent size with built in robes and direct access to the two-way bathroom complete with a spa bath, modern finishes and a European Style laundry.
Further features include ducted reverse cycle air conditioning and excellent security with 24 hour reception, video intercom and a swipe card system to allow access to all parts of the building. Accessing Foxtel and the internet is also made easy with data cable throughout.
Guests and owner occupiers are also welcome to the use of the facilities with an indoor heated lap pool, spa, sauna and gym.
This is an exciting opportunity to enjoy apartment living in a city location that has so much to offer!
PROPERTY INFORMATION:
Certificate of Title: Volume 5903 Folio 732
Council: City of Adelaide
Zoning: Capital City Zone
Year Built: 2003
Oaks Property Management Fee: $252.20 per month * Only applicable if leased to the Oaks.
Council Rates: $1,368.90 per annum (approx.)
SA Water Rates: $153.70per quarter (approx.)
Community Fees:
Admin: $870.00 per quarter (approx.)
Sinking: $202.00 per quarter (approx.)
Emergency Services Levy: $407.40 per annum (approx.)