Recent Apartment Sales

The market for the cheap shoe-box apartments, remains strong- but it all depends which building we are talking about. Some apartment blocks are leaky ant hills with no redeeming features and as a consequence prices are on the floor. All the more reason to research carefully and take good advice before plunging in.

Published 9 May 2011
Bob Dey Report

Interest was strong in 3 units offered at Ray White City Apartments’ auction on Thursday, but dropped away for a receivership sale and a larger unit on Federal St. Auction results:

Learning Quarter

Princeton, 30 Symonds St, unit 15H, 27m², 2 bedrooms, rates & body corp levy $4809/year, managed by Zeta Management Group, income about $6056/year, passed in at $88,000 in receivership sale (Damian Piggin & Daniel Horrobin)

Queen St Valley

The Federal, 207 Federal St, unit 806, 61m² plus balcony, 2 bedrooms, parking space, furniture optional at extra cost, rates & body corp levy $5848/year, current rent $420/week, passed in (Damian Piggin & Daniel Horrobin)

Uptown

Amora Hotel (ex-Duxton Hotel), 100 Greys Avenue, unit 3K, 39m² studio, body corp levy paid by hotel, rates $1274/year, fully furnished, in hotel pool, net income about $994/month, sold for $132,000 (Damian Piggin & Daniel Horrobin)

Nova en Scotia, 18 Scotia Place, unit 10B, 53m², 2 bedrooms, furnished, rates & body corp levy $4198/year, current rent $330/week, sold for $190,500 (Bain Duigan)

Victoria Quarter

Imperial Gardens, 135 Hobson St, unit 401, 63m², fully furnished 3 bedrooms, 2 bathrooms, one parking space plus storage locker, rates & body corp levy $6397/year, current rent $530/week, sold for $283,000 (Damian Piggin & Daniel Horrobin)

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