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1 Bedroom Studio for Sale in HOPE ISLAND 2022/56 John Lund Drive
HOPE ISLAND
2022/56 John Lund Drive
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SOLD by The Edgar Natolo Team
Bright and convenient, this generous fully furnished third floor studio apartment enjoys northern Marina views. Ideal for 1st home buyers, down sizers or investors looking to secure a foothold in this luxury position. Open plan living with floor to ceiling windows with flow through breeze.
Features include:
• Fully furnished studio unit
• Full bathroom
• Kitchenette
• Air-conditioned
• Secure car space
• Blue chip location in an attractive price range
Pet Policy: Sorry NO pets allowed.
INCOME & EXPENSES:
Solid investment opportunity - great rental yields up to $280 per week (currently tenanted on a permanent lease until 17.05.2021).
Body Corporate: $99.96 per week (inclusive of admin & sinking fund plus building insurance)
Council Rates: (all charges are per 6 month billing cycle)
• Category 3T - Tourist Rental minimum $1208.50 (currently charged at)
• Category 2T - Permanent Rental or Non-Principal Place of Residence min $597.50
• Category 1T - Principal Place of Residence minimum $497.58
Electricity: is a shared component of single meter, a set price of $110 per month is being charged against each unit.
Water Rates:
The Gold Coast City Council bill each apartment a shared apportionment. A very rough approximation is $250 to $350 per quarter.
Borrowing funds?
Due to the following factors:
• Size of the studio apartment being under 40m² of "living space"
• Being a studio it has a kitchenette, not full kitchen
• Being a studio it is does not have a "separate bedroom"
• Being located in a Hotel or Resort
Banks will not lend over 80% of the sale price. You WILL need 20% deposit or equity used from another property in order to avoid these issues with Mortgage Insurers which is needed when borrowing over 80%.
Contact The Edgar Natolo Team for an inspection on 0404 450 380.
*Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but 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 the information contained herein.*
