5/10 Monaco Street, Surfers Paradise QLD 4217

Sold $250,000
5/10 Monaco Street, Surfers Paradise QLD 4217
  • Property id: IRE2807784
  • Price: Sold $250,000
  • Bedrooms: 2
  • Bathrooms: 1
  • Car Spaces: 1

2 bedroom 1 bathroom unit in prize high density residential location

A wonderful set and forget investment, great investor returns, live in or a fantastic weekender for you and your family. All-important two bedrooms on the first and top floor of this strongly built 1965 two storey block of only eight apartments. One back from the corner of the GC Hwy (light rail) and very popular Monaco St where multimillion dollar property sales are not uncommon & the billion dollar plus Jewel Development about 600 mtrs away is this little building with tremendous potential for long term real estate gains. As an investment the holding income is a very healthy 6% gross with the current rent being $325 per week and very low body corporate levies (income and expenditure schedule under).

As a set and forget investment good holding income, 6% gross & 809 meters square of flat level High Density Zoned Land meaning perhaps one day a major vertical development of quality units might sit where once there were only 8 on this popularly located site. For the owner occupier and the weekender there is all the above and access to the GC lifestyle either every day or weekends. The lifestyle enhancers include our beach about 700 meters away, the Broadbeach and Surfers entertainment precinct is a walk away. The Star and convention centre about 2 ks and Pacific Fair 2.7 km’s down the track.

• First floor
• East facing balcony
• Large light filled living room
• Well appointed kitchen
• Two bedrooms
• Bathroom & laundry
• Under cover car space

Current weekly rent: $325 per week
The property is subject to a current lease.
Body corporate levies: $2,025
Council rates: $1,851
Water rates: $1,591
Gross annual return: 6% appx
Nett annual return: 4% appx