OYO Bed-Sitter Dwelling Unit - NOW STUDENT ACCOMMODATION $150,000 Why rent? It's cheaper buying!
Phone enquiry code for this property:6480 First constructed as 44 bed-sitter dwelling units in a Special Accommodation Residential Building, these units have since been subdivided into fully strata titled Bed-Sitter Dwelling Units in prime Residential Zone 1 of Frankston. This unit is larger than most in the building and has an en-suite bathroom (shower, toilet and vanity) and kitchenette. Large sliding glass door and window to private patio surrounded by gardens. As an Owners Corporation building with the security of a 24/7 Onsite Manager, the owner or resident has the use of a huge common area including a lounge room, dining room, Larger shared kitchen if needed, chat rooms, laundry, gardens and park-anywhere off-street parking. No gas or electricity bills/accounts. You only pay water and very low municipal rates and Owners Corporation fees. None of those catches like delayed management fees, in-going or out-going fees associated with Retirement Villages. This is your strata titled Own-Your-Own Unit. This offer is unique in that a student (or investor) can buy this unit paying it off with repayments less than the rent! A student could sell at the end of his/her 3 or 4 year course and recoup all or even more of the purchase price and have saved that rent. For the same reason this is an excellent investment. Sandpiper Place is a quiet cul-de-sac with a walkway at the sac end to Ballam Park, Ballam Village, Centro Karingal shopping, two schools and a college and bus stop. A walkway from the back gate brings you onto the Cranbourne-Frankston Road with St John of God Hospital, clinics and the Frankston RSL Club just across the road. Buses 789, 790 and 791 stop less than 200 m. servicing Frankston business centre and Rail Station. Equidistant between Frankston Freeway and Peninsular Link. Ideal for tertiary students of Monash University and Chisolm Frankston TAFE campuses. This is a fabulous part of Frankston and the most affordable Estate Fee Simple Property Title imaginable at $150,000. This is obviously very undervalued. (See the Statement of Information for median price of units and 3 recent comparable property sales within 2 Km.) This unit was previously leased for $11,754 pa or $979 pcm with all outgoings paid. That's a return of over 7.8 % on this price. The owner is forced to sell quickly for liquidity and compulsory withdrawal for Self Managed Super Fund compliance. Phone enquiry code for this property:6480
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