2 Bedroom Villa for Sale in WONGAWALLAN 9/400 Ruffles Road

9/400 Ruffles Road WONGAWALLAN

SOLD by The Edgar Natolo Team

This is a 2 level chalet, modified to what is known as a loft.

On the ground level is a combined living and bedroom area with an ensuite all air-conditioned and balcony.

On the upper level, there is a separate entry from outside, which is the chalet's main bedroom with ensuite and is also air-conditioned. This is usually accessed via the internal stairs in other chalets but has been closed off with a door & a separate entry installed to create the 2 separate quarters.

It is located in the successful Golden Door Health Retreat in Willow Vale, offering investors a very rare positive geared property with secure income source.

The Golden Door is your tenant by way of a registered lease which means it is permanently tenanted (you cannot live there yourself).



Monthly income received = $1,500.27

Less Monthly Expenses:

Body corporate fees = $342.95

Council rates = $147.50

Management fee = $112.52

Building Insurance = $41.17 (approx)

NETT INCOME approx = $856.13



If you borrow funds:

Based on ANZ Interest Only loan currently at 6.13% for 30 years, borrowing 60% of sale price which is $51,000

Loan Repayments = $261

Leaves a Positive Cash flow = $595.13 in your pocket! -- Plus an investment that is being fully paid in the long term.



Important Notes:

- Payments are transferred monthly into your bank account.

- As this is a resort investment, banks will loan 60% of its value, you will therefore need the balance of 40% in cash or equity in another property.

- A new lease with a 7 year term + 2 x 7 year options is being drafted for signing.

- The immediate owners can stay up to 4 weeks a year. Min stay is 1 week & 1 day. This is worked out as (7 days = 1 week, 8 days = 2 weeks, etc) In the company name the owner or main shareholder director of the company is the user of the right.

Edgar