Best Offer by 15th March 2011 @ 4pm, unless sold prior.

Brilliant investment opportunity with solid guaranteed returns and healthy depreciation benefits; the apartment was recently modernised and refurbished with an $8,000 internal upgrade. This fully managed 2 bedroom serviced apartment in Franklin Central Apartments has been put on the market and priced to be sold quickly. Note that you cannot live in this apartment until the lease expires in 2028.

Feature benefits:

* $15,255.84 rental return per annum on a secure lease (until 14th Dec 2018, with 2 further 5 year rights of renewal)
* Annual increase in rental income (CPI in Dec every year)
* Depreciation on $8,000 refurbishment & approximately $1,500 on plant and capital allowances
* $960 building write off allowance per annum ($38,400 cost, 2.5% for 40 years)
* Discounted stay in the hotel (subject to guest vacancies, deducted from your monthly return)
* Reception open from 7am -11pm
* New caf in foyer
* Nestled in quiet lane off Franklin Street (Bentham Street)
* 66sqm, well above the size limit for most banks/lenders
* Dishwasher & Microwave
* High speed internet
* LCD TV
* Foxtel
* Conference facilities

Our overseas investor is selling to fund the purchase of her first home – seize this opportunity to buy!

This property is proudly joint-marketed by Alex Ouwens & Martin Wylie; please call 0433 599 343 to arrange an inspection time or for more information.

General Information:
C/T = 5602/421
Council = Adelaide
Council Rates = $1,145 pa
Strata / Community Fee = $1,900 pa
SA Water = $774 pa
Apmt size = 66m2 approx