East St Kilda investment opportunity

I have available another investment opportunity - this time in East St Kilda. Details are as follows:

70 Alexandra St, East St Kilda
Completion approx April 2003
Entry level - 1 bedroom + study, 1 car park - 98.1 sqm (70.2 sqm internal) - $350k
Top end - 2 bedroom, 2 car parks & 1 store - 118 sqm (82 sqm internal) -$415k
14 apartments in total - 3 level complex.
High quality specs including granite bench tops, stainless steel appliances and polished timber flooring .
Selling at $15k below independent bank valuation.
The breakdown of apartments available:
1 x 1 bedroom +1 car park
8 x 1 bedroom + study + 1 car park
2 x 1 bedroom + study + car park + storeroom
2 x 2 bedroom + 2 car parks + storeroom

The demographic break down of East St Kilda shows that "lone person" is the most common form of occupancy in the area. This project is being marketed for that purpose. Generally speaking, 1 bedroom apartments are a lot easier to find tenants for. This particular project would suit investors looking for a long term settlement on a deposit bond. It would most probably be negative geared.

East St Kilda is a suburb highlighted by research firm Charter Keck Cramer for significant future growth. Inner suburban areas have had on average 16% capital growth over the last year, while East St Kilda has enjoyed 18% growth (source: Home Price Guide)

I have attached a drawing of the front of the building. Should you require more info, please feel free to call me on the number below or email me.

Cheers
Sime
0422 303 280

http://groups.msn.com/InvestmentOpportunities
 

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