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Offers Over $210,000 ea
LOTS 2 & 3 OF 5 BOURTON RD MERRIMAC - $220,000 + OFFERS EACH (BUY BOTH LOTS AND SAVE $ )
LOT 2 = 3 x STUDIO UNITS - ALL CURRENTLY TENANTED
LOT 3 = 3 x STUDIO UNITS - ALL CURRENTLY TENANTED
Brick Construction, Built 1993 (3 ROOMS - ON ONE TITLE) 2 LOTS
Each of the units are partly furnished and equipped with: bedroom and ensuite bathroom, bed, chair, cabinets/side tables, small fridge, microwave, air conditioning unit, ceiling fan (units vary)
INCOME & EXPENDITURE
Each unit renting for $550 per f/n (before fees/tenant services)
Income (per fortnight each unit x 3 renting at $550) = $42,900.00
OUTGOINGS (approx) per annum
Admin fund $2419.00
Sinking Fund $351.00
Water Rates $1800.00
Council Rates $2400
General Expenses $4500 (3) includes common area, maintaining cleaning kitchen area/equipment/meal areas, cleaning, electricity, other misc fees/repairs, phone etc)
Management fees $3432.00 (3) approx 8.25% of rent
Caretakers Levy $10,018.00 (3)
Internal minor unit repairs (3 rooms ) TBA
TOTAL OUTGOINGS = $24,920 per annum
NET $17,980.00 (approx 8.% net return) on purchase of $210,000 each lot
*These figures are approximate only and we advise that all buyers do their own due diligence
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ABOUT THE COMMUNITY
(investors only sorry no owner occupiers)
Westminster House pioneered and developed this Queensland’s rental retirement living. Studio style units, and single level villas of the single accommodations that are fully resourced servicing those looking for assisted living accommodation. Assisted Living at Westminster House offers a peaceful lifestyle with privacy and security, within a friendly communal environment for its residents.
To make for comfortable and care-free retirement living the current residents, Westminster house assists by providing:
3 nutritious home-style meals and snacks
Covered Walkways to dining room and community room
Car parking spaces available for visitors and residents
BBQ and in-house social events and entertainment
Small pets allowed in villas only (small dogs, cats, birds and fish)
Community room for entertainment
Security cameras and wifi
(meals and other added services at the residents cost, included in the lease terms)
Westminster House is centrally located at Merrimac, very central to all the Gold Coast has to offer.
Easy access to Pacific Highway to Broadbeach via Gooding Drive past Carrara Markets. Worongary Shopping centre with Coles and 40 shops is 500m away. Within 2 years we will have a train station within 5 mins walk away.
Merrimac Tavern with pokies and TAB is less than 1km away; Mcdonalds, Coffee Shops & Take Away, all an easy walking distance and only around 10 mins drive major shopping centres of Pacific Fair, Robina,
Beautiful Gold Coast’s beaches and hinterland are only 15 minutes’ drive away; Brisbane CBD is less than one hour drive on M1
Disclaimer: In the preparation of this document, we have used our best endeavours to ensure that the information contained herein is true and accurate, and accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify any information contained herein
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