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52/11 Giles Street - GRIFFITH 

$775,000
EER 6.0
CAR 2
BATH 2
BED 4
Agent:
Grahame O'Brien
P    02 6209 4000
M   0418 625 437

Set & forget investment opportunity


If you're an investor looking for a proven investment property that ticks all the boxes, then read on.

Located within the ‘Medina Classic' apartments & centrally located to Kingston & Manuka is this rare opportunity offering 11.8% gross return.

On offer is a 3 bedroom fully furnished apartment, office/conference area, reception space, 2 titles, 2 car spaces & 6 storage areas. There are also 2 pools (indoor & outdoor), spa, sauna, BBQ area & mature well-established garden areas.

The building is a classic colonial style - a landmark in the area - just walking distance to both Manuka & Kingston shops, restaurants & nightlife. Investors will love the peace of mind of having guaranteed income from an established management company until December 2025 & with two 5-year options. This is the prefect set & forget investment that is hassle free & exciting to own. Current income is $91,747p.a. plus GST. Even after running expenses like rates, land tax & levies, you are still achieving approximately 7.5% net return (well above bank interest rates).

So, if you desire an investment property that is not just ordinary, but turbo charged, then this is probably it. Opportunities like this are few & far between. Don't miss seeing this property.

 

Features:

  • 2 properties sold as 1
  • Close to Manuka & Kingston shops
  • Leased with Medina until 2025 with 2 x 5-year options
  • Established outdoor gardens
  • 2 car spaces
  • Current gross income combined $91,747 (+GSTU52)
  • 6 storage areas in basement
  • Fully furnished
  • 2 pools – indoor & outdoor
  • Sauna & spa
  • Unique investment opportunity
  • 2 titles
  • Combined water & sewerage rates $1,282 p.a.
  • Combined levies $7,226 (sinking fund)
  • No admin fund fees applicable