Subject to an individual ruling by Revenue SA this unit could well be stamp duty exempt if your proposed end use is as a managed short stay holiday rental. Located on the Glenelg foreshore and currently managed as a short stay rental by the Oaks Hotels and Resorts, this 1 bedroom apartment offers some impressive returns.
With occupancy rates consistently running at above 80% the apartment realised a gross income of nearly $54,000 for the 2016/17 financial year. This financial year's numbers look like exceeding this figure on current projections (Detailed financials available on request and registration of details).
With an unhindered view directly across Colley Reserve, there is limited view of the Marina and water to the North and a view towards Jetty Road to the South.
Fully appointed the property includes all furniture, full kitchen functions, a standalone bathroom and laundry facilities. Included in the package is access to the indoor pool, spa, sauna and gym. Advantage can be taken of the three Restaurants contained within the Oaks or indeed the myriad of restaurants within an easy stroll of the front entrance.
The apartment does also allow the owner to live in on a permanent basis, rent out in a traditional long-term lease or indeed continue with The Oaks managing the apartment as a short stay proposition.
Whatever the final proposed use of the property, the proximity to the beach, Jetty Road and Tram will ensure an enviable lifestyle for years to come.
(Please note opens are conducted when possible between guest stays. Please meet in foyer 5 minutes prior to scheduled open times)
Property Details Certificate Of Title: 5886/734 Council: City of Holdfast Bay Apartment Size: 47sqm (approx) Year Built: 2002
For further information please contact Mark Burns. Visit www.glenelg.ljhooker.com.au to view other LJ Hooker Glenelg Listings. RLA 182909
Features include: Air Conditioning,Built-In Wardrobes,Close to Shops,Close to Transport,Pool,Terrace-Balcony