Latest Shoe Box Apartment Sales

The Empire, 23 Whitaker Place, unit 1112:
2 bedrooms, 2 bathrooms, in long-term lease to Theta Management Ltd until 20 April 2016, with one extension option of 10 years
Outgoings: rates $880/year including gst; body corp levy $3948/year + $1513 contingency fund levy, $481/year FF&E reserve, $1603/year management fee
Income assessment: $8878/year net + gst for 12 months to June 2014, projected to rise to $9119
Outcome: sold for $140,000

Portland, 62 Queen St, unit 2C:
m², refurbished 2 bedrooms, 2 bathrooms, on 2 levels, big windows, balcony
Outgoings: rates $1435/year including gst; body corp levy $4800/year
Income assessment: $/week, not in Quest hotel pool
Outcome: no bid

Mt Eden
288 Mt Eden Rd, unit 5:
studio in a 1960s block of 8, balcony, one parking space
Outcome: passed in at vendor bid of $220,000

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