Inspection Times
01-Mar-2008 12:00pm to 12:30pm

Nestled on the very edge of the Southern CBD fringe, near Central Train Station and not too far from Sydney’s popular China Town precinct.

Apartment 57 is positioned on level 5 facing north, attracting an abundance of natural sunlight.

This circa 1940′s security building known as Elizabeth House, stands 8 levels tall and houses 57 home units and 2 street level commercial premises.

This apartment is in fair condition and could do with a makeover.
It features a combined living kitchen area, massive bathroom with internal laundry fittings.
The master bedroom has mirrored builtin robes.
Directly opposite the entrance hallway is a separate 9 sqm storeroom/workroom which is not let to the tenants. This room could be leased for at least $20 per week.

The apartment is currently let at $415 per week with an expired lease, potentially the return could be greater if renovated, however, the tenants are happy to stay on.

Investors Note: A strong rental demand location or this is a great opportunity to purchase an affordable home near the city out skirts.
Modernise and Capitalise!

……….About the Levies……….
High Levies… a short and simplistic summary as to why the levies ar higher than normal.

This building required upgrades and as there were insufficient funds, the building borrowed money to pay for these improvements. These building works are now budgeted for, but this 3 year loan still needs to be repaid.

Therefore, it was agreed by the building’s body corporate that the levies were to be dramatically increased.

We advise that all potential buyers conduct their own Strata reports.

It would be clever buying to take advantage of this current position which has a limited period then, imagine the capital appreciation once the loan in paid off and the high levies are reduced.

Based on the high levies, our realistic vendor has set a very attractive selling price and will also listen to offers.