RENOVATED ONE BEDROOM UNIT – GREAT RENTAL RETURNS
Attention all investors – This renovated one bedroom unit has just hit the market and the owner is motivated to sell.
Located in a mid-sized complex of 24 units, this apartment is on the first floor at the back of the complex, furthest from the road. The body corporate Palmilla CTS 55, has recently repainted the exterior of the building, giving it a fresh, modern new look.
The unit itself is approximately 40 square metres internally, plus an allocated carport of 13 square metres in size. It has a functional kitchen with a new cook top and oven, as well as additional overhead cupboards for additional storage. The kitchen is off a spacious open plan living/dining area.
The bedroom is separated out from the living area via the built in robe. It is a good size and can easily have a queen bed plus two bedside tables. The bathroom is off from the bedroom area and has a washer, dryer and laundry tub in place, without space being compromised. There is a near new vanity in place.
The unit was fully re-painted internally approximately two years ago and the unit tiled throughout.
These apartments are in demand as the vacancy rate is at tight levels of 2% and under in Cairns at present. There are currently tenants in place for $210 per week.
Ideally located on Alfred Street, this is just a short walk away to Raintrees Shopping Centre, right across from the Primary School and as short drive into the City Centre. For those without a car, there is a bus service that runs from the back of the shopping centre. All these are great for attracting good, long term tenants.
The body corporate is in excellent financial shape. As at September 2018 they had $34,900 in the Administration Fund and $84,400 in the sinking fund. This gives a healthy balance of $119,300 for future works.
Body Corporate Fees
Administration Fund $1275.41 pa
Sinking Fund $963.04 pa
This make the total Body Corporate Levies $2,238.45 annually
Council rates plus excess water are approximately $2500 per annum.
This apartment is perfect for a set and forget investment – call now to arrange an inspection.
Floorplans & Interactive Tours
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Open for Inspection Times
No inspections are currently scheduled. to arrange an appointment.