Purchase Price: $169,000
Princes Wharf is fast becoming the investors first choice if looking for a strong cash flow investment.
We have worked with multiple buyers who have come back to us for second and third apartments on Princes Wharf - there are now several owners who own in excess of 3 apartments.
The location speaks for itself, the apartments are large and practical in design and the structure is concrete - built on top of a wharf of course.
This particular unit has been successfully run by the current owner who has seen big profits in operating his short term accommodation business.
This is one of three units offered to the market by the same owner, so let's do the numbers together and you may well find yourself considering an offer on all three when you understand the earning potential.
This studio unit is West facing, and although it is internally facing with no sea view as such, being elevated on level 4 is a bonus with more sun exposure than others.
Offered for sale fully furnished, this could be your chance to step into a hassle free transaction before the peak season kicks off in a few weeks.
This apartment is currently occupied more often than not with short term guests, so viewings by appointment with flexibility required.
Important to note the ground rent for Princes Wharf is increased annually by 3% or the CPI (whichever is greater) and this is fixed until at least 2039. This is extremely positive as it removes all of the uncertainty with the previous five yearly ground rent reviews that were in place.