2
2
225-5 Bourton Road,
Merrimac Queensland 4226
Price: $105,000 + EA
7.8% NET RETURN - 2 UNITS FOR THE PRICE OF ONE! RARE INVESTMENT IN THE HEART OF THE GOLD COAST - SOL
VERY RARE MULTI-UNIT PROPERTY ON OFFER (2 PROPERTIES ON ONE TITLE) OFFERING SOLID RETURNS & PEACE OF MIND INVESTING! 2 x VILLAS - BOTH CURRENTLY TENANTEDSEE BELOW BREAKDOWN FOR MORE DETAILS
************************************************************************************
LOT 225/5 BOURTON RD MERRIMAC - OFFERS OVER $210,000 ($105+ EACH)
INCOME & EXPENDITURE: Lot 225
Rental income: $580 p/fn = $15,080 x 2 = $30,160.00 p/a
OUTGOINGS: approx
Council Rates: $2400.00 per annum
Water Rates $2100.00 per annum
General Expenses $1000 approx (500 per unit)
Body corp & cartaking levies: $5770 - includes building insurance, public liability insurance, body corp management, admin/sinking fund levies (fees are tax deductible)
Rental management fees approx 8.25% if rental income (both units) $2500.00
TOTAL OUTGOINGS: $13,770.00
NET RETURN: $16,390.00 (7.8% NET RETURN) on purchase of $210,000
PLEASE NOTE: These approx only and based on last FY - we advise that all buyers do their own due diligence, rental manager fees based on 8.25% of rental income.
Virtual tour for villa 230 - https://my.matterport.com/show/?m=WkvG7eMTPPx
Virtual tour for villa 229 - https://my.matterport.com/show/?m=UYbTHHaAPrA
(You will need to cut and paste the links into your browser to view)
Each of the units are equipped with:
Lowset brick build, with separate lounge, bed and bathrooms - built 2006
One bedroom with, air conditioning, ceiling fans, built in robe and access to washing line and outside undercover terrace/patio
One bathroom - combined laundry with washer and dryer
Neat kitchenette with fridge and microwave
Lounge, and dining table with chairs (optional)
Security screens to all windows and doors
Smoke detectors (Level 1 Fire Safety rating)
Under offer
*******************************************************************************************
ALSO LOT 5/5 BOURTON RD MERRIMAC - $225,000 + OFFERS
3 x STUDIO UNITS - ALL CURRENTLY TENANTED
Lower floor, Brick Construction, Built 1993 (ROOMS 4-5-6 ON ONE TITLE)
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)
TAKE A WALK THROUGH
* Virtual tour link for unit B5 & B6 - https://my.matterport.com/show/?m=jK2Eus8L5id
* Virtual tour link for unit B7 - https://my.matterport.com/show/?m=yKWvJFKyq22
(You will need to cut and paste the links into your browser to view)
INCOME & EXPENDITURE (LOT 5/5)
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 $2546.00
Sinking Fund $208.00
Water Rates $1980.00
Council Rates $2100
General Expenses for community $3960.00 ( includes common area, maintaining cleaning kitchen area/equipment/meals areas, cleaning, other misc fees/repairs, phone etc)
Management fees $2925.00 (approx 8.25% of rent)
Caretakers Levy $10,550.00
Internal minor unit repairs (3 rooms ) approx $150 p/a
TOTAL OUTGOINGS = $26,038.00 per annum
*These figures are approximate only and we advise that all buyers do their own due diligence
*Please not with the virtual tour you can only see rooms 5 & 6 as one tenant is not well enough for us to complete the photos and tour se we have used one from the last time this unit sold)
**********************************************************************************
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
