(84% of Median)
- Apartment / Unit / Flat
Oaks Horizon Hotel - Brilliant investment opportunity - Apartment 1005 with panoramic north facing views across to Adelaide Oval
**Apartments purchased for investment purposes only and leased on a short term basis as a serviced apartment are eligible for a full reduction of Stamp Duty costs (Subject to Revenue SA Approval). For.. Show more >
**Apartments purchased for investment purposes only and leased on a short term basis as a serviced apartment are eligible for a full reduction of Stamp Duty costs (Subject to Revenue SA Approval). For further information please go to the RevenueSA website - Stamp Duty on Transfer of Real Property (Land).**
Fully furnished, stylish one bedroom apartment situated on the tenth floor of the Oaks Horizon Hotel, located on the lovely tree lined boulevard of North Terrace, Adelaide, showcasing beautiful north facing views over the River Torrens and the Adelaide Oval.
Options are available to either occupy or continue to lease through Oaks Hotel Group and enjoy the benefits of a no maintenance investment opportunity with excellent rental returns. The current annual net income after management and cleaning fees is $17,917.68 representing approximately a 6% return (the gross return is $25,457.40). The rent was Reduced due to the pandemic but this reduction will be reviewed on 1 July and potentially increase the net income back to $22,397.16 (about 7.6% net return).
The apartment is spacious, light and bright and well appointed with a fully equipped kitchen featuring stone bench tops, electric oven, cooktop and quality fixtures and fittings. The open plan living and dining area is adjacent and offers access to the balcony framing the views.
The generously proportioned bedroom has built in robes and direct access to the two way bathroom complete with a spa bath/shower, and a European style laundry with a washer/dryer.
Extra features include Foxtel and internet, ducted reverse cycle air conditioning, video intercom and security with swipe card access, 24 hour reception, indoor heated lap pool, spa, sauna and gym.
The beaut location and resort style facilities make the accommodation perfect for travellers being so close to the Adelaide Oval, Convention Centre, Royal Adelaide Hospital, South Australian Health and Medical Research Institute, South Australian Health and Biomedical Precinct and the Uni SA Health Innovation Building.
Excellent restaurants and bars are within an easy walk although public transport options are abundant with the train station, tram and bus at the doorstep. All the cosmopolitan delights are available in the Central Market and Gouger Street. Adelaide University, University SA and TAFE are also within walking distance.
CT / 5903/771
Council / City of Adelaide
Zoning / CC
Built / 2003
Council Rates / $1685.65pa
SA Water / $147.35pq
Strata Manager / Whittles
Strata rates / $1079.00pq
Nearby Schools / Sturt Street Community School, Gilles Street P.S, Torrensville P.S, Goodwood P.S, Adelaide H.S, Adelaide Botanic H.S, Thebarton Senior College, Bowden Brompton Community School, Bowden Brompton CS Torrens Road Campus
All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans and size, building age and condition). Interested parties should make their own inquiries and obtain their own legal advice. Should this property be scheduled for auction, the Vendor's Statement may be inspected at any Harris Real Estate office for 3 consecutive business days immediately preceding the auction and at the auction for 30 minutes before it starts. Show less