This is a rare opportunity to acquire the entire apartment block situation on approx 809sqm of land with a 20m water frontage. All apartments are WATERFRONT and 3 of the 4 apartments are tenanted to reliable, caring tenants. Unit 4 is owner occupied. LAND SIZE: 809sqm with approx. 20m water frontage. ZONING: Residential B
APARTMENTS
*4 apartments in total, 2 x 3 bedroom apartments & 2 x 2 bedroom apartments. All 4 are individually strata titled.
*Unit 1: Waterfront – balcony, newly painted lounge, dining, kitchen areas with views overlooking the water, 2 bedrooms with built-ins, 1 bathroom with separate laundry and an internal access from the single garage.
*Unit 2: Waterfront – balcony, newly painted lounge, dining, kitchen with views overlooking the water, 2 bedrooms with built-ins, 1 bathroom with separate laundry an internal access from the single garage.
*Unit 3: Waterfront – balcony, lounge, dining, kitchen overlooking the water, 3 bedrooms with built ins, 1 bathroom with separate laundry. Single garage. This unit has been partially renovated with a new spacious 2pk kitchen, tiled kitchen and lounge room.
*Unit 4: Waterfront – balcony, this apartment has been completely renovated with timber flooring, new sliding doors, 2 pk kitchen with Ceasarstone benchtops, corner bath, 3 bedrooms with builtins and single garage.
*All 4 apartments have private access.
*Private sandy beach
*Solid brick and tile construction with concrete slab flooring.
*Age of dwelling approx 32 years old.
*No strata fees as the family (owners) take care of the property.
LOCATION:
Brilliant waterfront location situated on the Tweed River and only 1.3km to Kirra surf. Walk to the beach and Kirra’s retail / cafe precinct. With the Southern Cross University nearby which will constantly be increased over the next few years and not forgetting the convenience of Gold Coast Airport just next door to the Uni.
Endless Summer Estate, Tweed Waterfront, Northern Rivers

INCOME
Rental income: $68,120.00
Unit 1 – $300pw
Unit 2 – $300pw
Unit 3 – $320pw
Unit 4 – owner occupied but was rented for $390.00pw

EXPENSES for 4 units in total
Land Rates for 4 units: $7,040.00pa
Water Rates: $752.00pa
Lawns mowed: $810.00pa
Insurance building: $850,000 $1,500.00pa
TOTAL $10,102.00pa

DIFFERENCE: $58,018.00

Disclosure: The owners of the properties are related to the agent.