This nifty little investment is a students dream rental, being a few footsteps from the CBD and short tram ride to Highpoint shopping centre. Surrounded by parks, cafes and culture, this apartment is your next avenue to creating a successful investment portfolio.
The Student Accommodation market was hit hard, we all know that. What you might not know is that prices are rising. Some current leases with tenants in place have instructions for the rental price to increase mid-lease.
If you're concerned that now isn’t the "perfect" time to buy, when is? Prices are astronomically low for student specific apartments, yet rental prices are increasing. We can't be sure how long this will actually last, before the purchase prices start coinciding with rental prices.
My advice - buy now and reap the benefits.
Indicative Selling Price: $120k
General Council Rates approx: $382/annum
Water Services approx: $419
Owners Corp Fee approx: Approx $1782/annum
The most recent renter in place was paying $1238 per month on a 12 month lease from January 2019 - January 2021, although most apartments in the buidling are priced at $826pcm.
This apartment is vacant and ready to be sold! Get in touch to secure an inspection soon!