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7 PERCENT RETURN, NETT !
Fantastic returns and long lease .
INVESTMENT ONLY APARTMENT. On a commercial lease returning NETT 7 percent per annum.
That is correct 7 Percent NETT !
Being the caretakers apartment and zoned appropriately as the caretakers apartment all outgoings are paid by the strata company.
It is fully maintained by the strata company as per the lease.
The long lease as caretakers apartment was required by Department of Planning in the Seashells Resort Complex's original approval. It is a 25 year lease with 2 by 25 year options signed in 2006. So there is 8 years remaining on the first term and 2 further 25 year options.
Current return is $27,040 per annum with the next market review due in 2026.
Situated on the first floor, the unit has its own kitchen , bathroom with spa , 2 good size bedrooms and a terrace with water views.
Also, unlike most apartments in Seashells, there are 2 car bays and a storeroom undercover allocated on the strata plan.
Its a superb complex SITUATED RIGHT ON THE BEACH with infinity edge swimming pool, tennis court, barbeque facilities.
Rental invoices are issued quarterly and Rates / Land tax invoices issued annually. Talk about SET AND FORGET.
IDEAL SUPER FUND INVESTMENT.
The owners reserve the right to accept an offer prior to the closing date. Obviously it would need to be a very good offer for them to do so.
To view call GARY WARNE
Property features
-
Carports
2
-
Toilets
1
-
Floor area
87m2
Property snapshot by reiwa.com
This property at A101/16 Dolphin Drive, Mandurah is a two bedroom, one bathroom apartment sold by Gary Warne at Ray White Carters on 05 Oct 2023.
Looking to buy a similar property in the area? View other two bedroom properties for sale in Mandurah or see other recently sold properties in Mandurah.
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Mandurah overview
A vibrant mixed-residential and commercial suburb, Mandurah is the heart of the Peel district. Once a small fishing village, Mandurah has evolved into a thriving regional city and a popular destination for tourists. Situated along Western Australia's coastline, Mandurah has firmly established itself as a first class 'sea change' destination with an array of property developments that include everything from family homes, to modern apartments in new estates and luxurious mansions with canal views.
Life in Mandurah
An alluring mix of inner-city panache and classic suburban culture define the Mandurah lifestyle. As a result of the 'sea change' phenomenon which transformed the suburb, Mandurah is now home to a major shopping centre, quality restaurants, charming retail outlets, a bustling foreshore and a pulsating boardwalk. Throughout the year, Mandurah hosts several popular annual events such as the Crab Festival in mid-March and the Mandurah Boat Show in mid-October. Other notable features include the Mandurah Train Station, which provides a fast transport option into and out of the Perth CBD, and local schools, Mandurah Primary School, Mandurah Baptist College, Mandurah Catholic College and Frederick Irwin Anglican School.
Mandurah quick stats
High end
$510k
Median
$450k
Low end
$395k
26.8 %
Annual growth
$450k
Annual median sales price
$500pw
Annual median rental price
