MOVE IN READY LUXE STUDIO OR READY SETUP INVESTIMENT PROPERTY
GREAT RETURN ON INVESTMENT: We recently listed (October) on Airbnb following several other units being successfully short stayed in the complex. Our apartment has achieved 81% booked out with a projected yearly income of $42,700.
For a 2.89% fixed investment loan with 20% deposit ($420,000 purchase price) after costs this would represent a 24% return on investment each year.
Or with a 2.89% fixed investment loan with 10% deposit after LMI & after Airbnb costs this would be a 35% return on investment each year.
Our ROI is significantly higher than others operating in the same complex which is impacted by their nightly price being ~45% lower whilst operating with all the same ongoing costs. Our higher nightly rate is justified by the high end renovation that has been completed to this stunning apartment with potential for increased income return as booking rates increase above 81%.
We are happy to share/provide all short stay history on bookings and associated costs to assist potential buyers (calculations based on 6 month's worth of bookings from October 2021 through to April 2022) - we have bookings up until April 2022.
THE APARTMENT: is a recently renovated, open-planned, split-level studio located off a quiet laneway in iconic Cottesloe. This apartment is a standout in the complex with its unmistakable level of workmanship and sophistication through its finish and design. It also boasts its prime location only a short walk to Cottesloe Beach, Claremont Quarter, Millionaires Row and the Napoleon Street shopping precincts.
This apartment complex is well-maintained and surrounded by luscious gardens. It hosts a common laundry with space for pushbikes, outdoor shower, large drying court with plenty of hanging space, an allocated parking space and parking for guests also.
Positioned on the top level, you'll not need to fumble for your keys anymore with keyless keypad entry though a large pivot door. Stepping into the living room you'll notice the stunning maintenance-free polished concrete floors. The living room feels spacious with ample space for a large couch and coffee table. Stay warm in winter and cool in summer with a Mitsubishi reverse A/C (tucked away and ducted through cabinetry) or alternatively open the balcony door and windows to enjoy that coastal breeze. The hot water system has been upgraded to a Rinnea continuous flow system along with a complete rewire and upgrade of the mains control board.
THE KITCHEN: has been finished to high spec with top end appliances and premium material selection. The cabinetry is a mix of premium textured finger pull woodgrain finished doors with matt black uppers and Premium Collection Stone countertop. The kitchen features:
- Smoked glass splash back with undercabinet strip feature lighting,
- Abey Vicario pull out mixer tap
- Stainless undermount sink
- Schweigen four burner gas glass cooktop
- Fisher & Paykel undercabinet rangehood
- Fisher & Paykel combination steam oven
- Fisher Paykel fully integrated Fridge/Freezer
- AEG fully integrated dishwasher
- The breakfast bar is handmade from solid 45mm thick Marri and waterfall matched against the stone countertop
THE LAUNDRY: Positioned on the transition between the bedroom and kitchen houses a Bosch Series 8 Washing Machine and Heat Pump Dryer with enough room for an ironing board and clothes basket and is all concealed behind seamless cupboard doors.
THE BATHROOM: enter through a custom floor to ceiling Tasmanian Oak Pivot door you will be wowed with the matching bespoke Tasmanian Oak Floating Vanity with Premium Collection Stone top and undercabinet feature lighting. The full wall of recessed mirrored shaving cabinets reflects the stunning fish scale mosaic feature tiled wall. There is a well-sized shower with a full length frameless shower screen, full wall niche, rain shower head with additional detachable hand-held shower head and Matt black tapware and fittings are featured throughout.
THE BEDROOM: Stepping down the floating stairs into the bedroom there is a full wall of south facing floor-to-ceiling windows that shed an abundance of natural light which floods the entire apartment. This is reflected in the 2400 high sliding mirror wardrobe doors. A custom finished chevron feature wall is both classic and luxurious in finish against the hanging brass pendant bedside lights. The high raked ceilings are amplified by the full length sheer curtains and full block-out curtains, which ensure both privacy and a goodnight's sleep. A matt black wooden louvre-like screen creates zoning from the living space and bedroom. Leading out of the bedroom is an outdoor balcony perfect for grasping the fresh morning coastal air. The balcony is finished with a floating deck, standing bar, custom made box seat with storage and hanging garden.
This apartment has been finished to a very high standard with its selection of materials and fixtures and presents as new with its classic colour palette and timeless design features making it a perfect home or investment primed for great potential returns and future growth.
Council Rates (21/22): $1,487.60 per annum
Water Rates: $804.12 per annum
Strata Fees: $645.00 per quarter
DISCLAIMER: The details shown are for information only and may contain errors or omissions. Please check all details and do not rely solely on the information contained herein.