This is a unit on a lot in 4/BUP70922 Westcourt QLD. Comparable sales have been around $225,000. Built in 1989, it has 3 bedrooms, 2 bathrooms.
Looking for a positive geared property? For the homeowner:Creating a pleasant impression of comfort and convenience, this solid ground floor unit is situated at the front corner of the complex with direct street access. Its surprisingly spacious proportions and handy location would suit a young family or downsizers. The street has a sense of tranquility with majority of neighbouring properties being large Queenslanders. Only one street away from DFO shopping centre its convenient location is unbeatable. Features include;Combined lounge and dining roomWide glass doors open to a beautiful courtyardGenerous kitchen with ample storageThree bedrooms with built-in wardrobes and aircon, master has generous ensuiteMain bathroom has combined bath and showerTiled throughoutLarge linen cupboardSplit system air conditioning to living / diningOne street from DFO Shopping Centre Three bedroom units are in high demand, sales history for the complex shows only two units this size have come onto the market in the past 10 years. First sold in 2005, the next 2010 and now I bring you a once in a five year opportunity. For the investor:You simply will not find a better investment:Body corp fees are $3,742, Rates are $2,300. The building was built in 1988 and there is approx $68,000 in the admin and sinking fund. The asking price is $218,500. I believe this property represents a fantastic investment. Borrowing 80% of purchase price= $174,800 at 4.75%pa = $160/week.Body corp= $3,742/52 = $72/weekCouncil rates approx= $2300/52 = $44/week Total major expenses= $276/week Rental income approx= $320-$340/week Resulting in a cash flow positive investment of $44/week or $2,288 a year.