3057/55 Cavenagh Street

$349,000

This is a secure investment with a long-term lease in place located in the center of the Darwin CBD and suitable for investors only. Currently leased by the management of Metro Advance Apartments, the lease started with 4 x 5 year terms with the current lease at the beginning of the second 5 year term, this leaves plenty of secure rental income yet to come for this property.

The location of this property maximises convenience as it is at the geographical center of the Darwin CBD. Next door is the large Woolworths shopping complex, across the road is another hotel and the property is less than 100m from the new Charles Darwin University campus which is currently under construction. The location of the complex is one of the things that ensures the ongoing success of the property, as is the internal amenity such as lift access to each floor, air conditioned lobby and a pool.

Contained within the title for this property is a twin key investment consisting of a fully equipped 2 bedroom apartment with a private balcony as well as a fully equipped studio apartment with both being connected by an internal lockable door meaning it can also be used as a 3 bedroom apartment.

Features include:

* Twin Key – 2 dwellings under the one title
* Located in a fully managed Hotel/Motel
* Hard to beat location in the central CBD
* Long lease with multiple options
* Pool in complex
* 1 car park under title

The added advantage of this property is that they are fully equipped with parking so once the Hotel lease runs out you have many options including renegotiating with the Hotel, renting the property yourself or even living in it. This is a great opportunity to purchase an investment property without the hassle of having to find tenants and look after them.

Year Built: 2004
Planning Zone: CB - Central Business
Area under title: 125m² (approx)
Body Corp Manager: Network Pacific
Council Rates: $1,600 per year (approx)