69/4-20 Varsityview Court, Sippy Downs QLD 4556

Offers Over $300,000

4 beds

4 baths

1 parking

SOLD by Kathryn Willshire

Disclaimer: Photos displayed are from other comparable units within the same complex.

This entry level investment opportunity offers a secure complex ticking all the boxes for the investor and a very sought-after rental return. Resort lifestyle within walking distance of the Sunshine Coast University and Sippy Downs Shopping precinct.

The complex offers exclusive affordable student accommodation for University students with the benefits of onsite management and an array of recreational facilities including a 30 metre lap pool, another leisure pool, tennis court, basketball court, large indoor common area, gym and several communal areas.

This fully self-contained and furnished apartment has 4 lockable bedrooms each incorporating its own ensuite and a communal living area and kitchen.

This is a great investment if your son or daughter are attending the Sunshine Coast University, providing you with the added advantage of a handsome return for rental return from the remaining 3 rooms.

Current leases:

Room A: Leased until 08/01/2024 at $210 per week ($182 after service fee)
Room B: Leased until 25/12/2023 at $210 per week ($182 after service fee)
Room C: Leased until 03/07/2023 at $224 per week ($196 after service fee)
Room D: Leased until 26/06/2023 at $210 per week ($182 after service fee)

From this weekly rental $28 is deducted for the onsite management fee which includes services of internet provision, fortnightly unit clean, repair and replacement of small appliances (kettle, toaster etc)

The Onsite Management also included 24/7 Security, BBQ opportunities for the students etc

Property features:
• 4 beds
• 4 ensuites
• Common lounge room/dining
• A/C in living area
• Complex features:
• Large inground pool & 30m lap pool
• Large indoor communal/games room
• Outdoor beach volleyball court
• Indoor gym
• On-site management
• Full time gardeners & on-site caretakers
• Quick & easy walking access to the Sunshine Coast University
• Undercover car park in complex & on-street parking
• Gated & secure complex

NOTE: You will need a 40% deposit if you require lending.


Expenses:
• Body corporate fees (includes electricity): $2,899 per quarter
• Rates: $2,200 p/year
• Water- Approx $200 per quarter
• Boarding services: $28 per occupied room, per week. This fee covers 100 GB of internet per month,a fortnightly ocean of the communicable areas, replacement of damaged implements (toasters, kettles etc)
• Management fees: 9% inc gst of rent collected:
• Let fee: $400 p/year
• Marketing & advertisement: $400 p/year

(Return on investment is based upon the above income & expenses. We encourage all prospective purchasers to do their own due diligence).


* Return on investment will depend on occupancy & vacancy throughout the year, the return is not guaranteed & is only a current estimation of income & expenses

Parking: 1 garage space
Bedrooms: 4
Bathrooms: 4

Please call kathryn today on 0437434648 to discuss this property further but be quick, here today, gone tomorrow.

Property Details

• Type: Unit
• Bedrooms: 4
• Bathrooms: 4
• Garage Spaces: 1