Balaclava investment opportunity

Hi everyone,

I have one apartment up for sale in a project in Balaclava, Melbourne. This particular project is a high quality refurbishment of an existing building. All apartments sold out however one of our clients finances didn't stack up and his two properties are now back on the market - one of which has already been sold. Developer keen to finish off the project and has issued a significant price reduction to facilitate this. Details are:

Blenheim St, Balaclava - settling in approx 2 weeks
Refurbishment of existing building by award winning developer - this developer refurbished the Park Royal in Melbourne and won awards for his efforts.
Project comprising of 8 apartments - 7 sold and 1 now back on the market.
Apt 5 - 3 bedder, 1 car park 122 sqm (98 sqm internal) - bank val @ $450k - selling @ $390k
Specs include stainless steel appliances, polished parquetry flooring (with jarrah edging) to living areas, fully fitted blinds, granite kitchen benchtops, stone bathroom benchtops, fully fitted and mirrored wardrobes, reverse cycle air con.
Rental management fees @ 5% and only one weeks letting fee.
Depreciation schedules provided.
Rental appraisal by Kingsford properties @ $395-$415/wk

This is a great little project in a high growth corridor. Median prices in Balaclava have risen by 18% for units in the last 12 months (source Home Price Guide). If you or anyone you know would be interested in this project, please email or call me asap.

Cheers
Sime
0422 303 280

http://groups.msn.com/InvestmentOpportunities
 
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