Sold
94 Reid Prominade, Joondalup WA 6027
Sold price: $800,000
Sold: 22 May 2023
Sold
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3 Bedrooms
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3 Bathrooms
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1 Car
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Landsize 355m2
Apartment
View
HUGE TWO STOREY 3 X 2 APARTMENT + 105 SQM RETAIL PREMISES
Excellent opportunity to secure this blue-chip, dual income, investment property in the heart of Joondalup City, offering Multiple choices.
• Live in the apartment, (once vacant) and rent out the retail.
• Rent out both residential and retail.
• Live in the residential, work from the retail (on expiry of lease agreement).
• Rent out the residential, work from the retail (on expiry of lease agreement).
The retail property comprises a 105 SQM ground floor corner premises, currently tenanted and used as an office for children’s “Speech Therapy” It has a kitchen, WC, two external private parking bays. Excellent presentation inside.
The residential premises is located on the second and third floors, approximately 205 SQM of living space, its own private entrance and offers the following: -
• Three good size bedrooms all with built in wardrobes.
• Two bathrooms.
• Very large family living area.
• Two further living areas.
• Kitchen with ample bench and cupboard space.
• Ducted air-conditioning.
• Single lock-up garage and a private outdoor car bay.
• Ground floor storage.
• Freshly painted throughout.
***** No Strata fees are applicable to this property.******
The retail premises has a current lease to August 2024 and a further option to August 2027. The current rental return is $26,000.00 per annum ($2,192.00 per month).
The apartment currently returns $550.00 per week, leased until. January 2024.
Combined income is $54,600.00 per annum ($4,550.00 per month). 6.7% Yield!!
City Rates $3,468.00 per annum.
Water service charges $3,102.00 per annum.
Property features
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Air conditioned
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Garages
1
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Lounge
Property snapshot by reiwa.com
This property at 94 Reid Prominade, Joondalup is a three bedroom, three bathroom apartment sold by Rob Gooden at Property West Real Estate on 22 May 2023.
Looking to buy a similar property in the area? View other three bedroom properties for sale in Joondalup or see other recently sold properties in Joondalup.
Joondalup overview
Joondalup is the thriving urban centre of Perth's outer northern suburbs. The city is named after Lake Joondalup and the name Joondalup is a Noongar word, first recorded in 1837 and possibly meaning either "place of whiteness or glistening", or "place of a creature that can only move backwards".
Joondalup's development is relatively recent having only begun in the 1980s, where rapid growth occurred until 2006 and then steadied between 2006 and 2011 as fewer new homes and dwellings were built. Joondalup's 11 square kilometre land area is primarily used for housing and institutional purposes, with some industry sectors in the west and a commercial area in the suburbs centre.
Life in Joondalup
Joondalup's City Centre is relaxed and casual with an alluring combination of cultural, civic and commercial areas built on the edge of Lake Joondalup. Residents and visitors to the area have an array of restaurants and cafes to choose from, as well as a major shopping centre with over 240 stores and a cinema. There is a university in the area, as well as a private hospital and numerous recreational facilities like an aquatic centre, basketball stadium and an arena. Local schools in the suburb include Joondalup Primary School and Lake Joondalup Baptist College.
Joondalup quick stats
High end
$960k
Median
$793k
Low end
$700k
23.8 %
Annual growth
$793k
Annual median sales price
$635pw
Annual median rental price
