523/132-138 Ferny Avenue

Surfers Paradise, QLD, 4217

  • 1bed
  • 1bath

SOLD

The Lowest Priced Unit in Surfers Paradise

This large one bedroom unit is 74m2 and is on the 5th floor of the South Tower of the Alpha Sovereign Hotel.
All apartments in this building cannot be lived in or permanently rented they must be holiday let by on-site management until the current lease expires in approx 2022.

  • Apartment: 523
  • Beach: Approx 200m
  • Bedrooms: 1
  • Bathrooms: 1
  • Floor Height: 5th
  • Aspect: South / West
  • Size: 74sqm approx
  • Views: River, Hinterland, and Surfers City skyline
  • Furnished: Yes
  • Air Conditioned: Yes
  • Facilities: Pool, gym, spa, games room onsite restaurants
  • Gross Income: $21,008
  • Expenses: $10,072
  • Refurbishment fee: $420
  • Management Fees: $6,445
  • Body Corporate: $4,495
  • Council Rates/Water Rates: $3,116

While under the leaseback agreement the current managers are responsible to cover the rates, water and body corporate along with managers fees out of the rental income making this a neutrally geared property that you can use up to 10 out of the year*.

Please note that there is currently a lease agreement in place until 2022, meaning that you can't live in, privately rent out the property and during this period while under the leaseback, the apartment must be managed by the onsite managers.

Email us today for your full information "Facts Pack" also a copy of the contract with all leases and agreements can be emailed to you please ask for this in your enquiry.

*Please refer to lease and management agreements.