Now more then ever is the time to invest in a stable, viable and established building , especially suited for those with an eye toward the future and a desire for a current, stable and growing income now is the perfect time to get involved.
Please note that as this apartment is on a commercial lease until May 2031 to Mantra Hotels and as such Stamp Duty is not applicable to this purchase ! (Subject to application to Revenue SA)
Visitors to our fine city love the location of this leased investment within easy access in any direction be it Adelaide Oval Festival Centre the Riverbank China Town Market or the Mall plus commercial and service establishments, with beaches and hills precinct as simple as hoping on the tram or ordering an Uber so when looking for a sanctuary to rest and recharge after the day exploring this fine city, this apartment is this oasis to retreat to plan where to go to eat and what to do tomorrow.
Leased to Mantra Hotels this could well suit family superannuation funds or established buyers looking to add / diverse there holdings.
With changing financial conditions the old adage "invest in bricks and mortar" is more relevant then ever.
This fully furnished and impeccably maintained large one bedroom apartment is in the eighth floor facing north over Grenfell street.
The enviable position of this apartment building offers guests, the choice of superb restaurants,pubs and cafes all within a strool from there apartment.
However if they are having an extended stay they can stay in and eat and prepare there meal in the fully equipped kitchen, relax and dine in the open plan living area. Double glazed windows will ensure a great nights rest.
This is an opportunity for those with an eye to the future with a possible land use code change
Income:
2022/23 $22,981.30
2023/24 $18,301.72
2024/25 $16,710.65
2025/26 $19,044.28
Leased 26th March 2021 to 25th of May 2031
Property Details
CT 5791/778
Council: City of Adelaide
Council Rates $388.65 p/q approx
Zoning: CC13
SA Water :$165.55 p/q approx
Body Corp:$1,181.00 p/q approx
Sinking Levy:$317.00 p/a approx
Contact agent should you wish further information
Disclaimer: The information contained in this listing has been obtained from sources considered reliable. However, no guarantee is provided as to its accuracy, and no responsibility is accepted for any errors or omissions, including (but not limited to) details relating to land size, floor plans and measurements, building age, or condition. Interested parties are encouraged to conduct their own investigations to verify the information provided. If this property is scheduled for auction, the Vendor's Statement will be available for inspection at our Harcourts Sheppard office for three consecutive business days immediately prior to the auction and at the auction for 30 minutes
