Sold by Caroline 0402 889 441
This excellent two bedroom property enjoys an elevated and very private position in the Bayside tower at Pacific Bay. Located on the third floor, with a north-east aspect and the greenery and privacy of the trees all around, the peace and quiet surrounding this great property together with the local birdlife, is relaxing and unexpected.
If you require a bit of the action, there are plenty of fun activities to choose from in the grounds of the resort, from the challenging nine holes of the golf course, to the two large pools and well equipped gym. But the lure of the balcony with a good book and cup of tea or glass of wine will provide a welcome change first thing in the morning or later in the day, with just the birdsong and tumble of the ocean in the background to interrupt your thoughts.
The property is being sold fully furnished and equipped. The two units on the one title comprise 2302 - a one bedroom unit with kitchen, bedroom, living/dining room, long undercover balcony and laundry and 2301 a one bedroom studio complete with undercover balcony and bathroom. The whole property can be utilised as a two bedroom apartment either for permanent/holiday rental or owner occupation, or used separately as 2 x units with holiday rental only permissible in the studio (2301), and permanent occupation or rental permissible in the larger unit (2302).
With all these options available for the owner, there are varying returns achievable for the whole property. As a permanent rental, the whole 2 bedroom property can achieve $450 per week. When split, the larger unit (2302) can achieve a proven permanent rental of $360-370+ per week, and the smaller unit (2301) an estimated holiday rental of $10,000-15,000 per year. In summary, a gross return over 10% is achievable.
As a place to live, the potential purchaser may be interested in living in 2302, and holiday renting 2301 to cover the propertys outgoings (and more).
In summary, this is an exciting beachside opportunity on a beautiful part of the Coffs Coast. With headland walks, beaches and rainforests all close by, as well as the excellent resort facilities mentioned above, buyers will be attracted to both the property and the options that come with it.
Strata fees $7988 pa
Council rates $2100 pa