7/228 Varsity Parade, Varsity Lakes QLD 4227

This is a fantastic opportunity for an investor looking for a rental in high demand!

This well-appointed investment, currently tenanted until December next year, awaits a new owner. The tenants have been incentivised openness to moving out with 3 months notice. This units features, facilities and central location appeals to so many different demographics, making it the perfect investment for any savvy investor's portfolio.

Key property features include open-plan living, a quality kitchen with modern amenities, and reverse-cycle air conditioning.

The Chancellor Executive, constructed in 2007, stands adjacent to Varsity Lakes' main shopping district, offering ultimate convenience and a short walk to renowned Bond University. Enjoy the complex's outdoor pool and barbecue area.

Complex amenities encompass an onsite manager, open pool, barbecue facilities, secure basement parking, and pet-friendly options subject to Body Corporate approval.

Occupants will benefit from a prime location with a short walk to Varsity Lakes CBD and a quick drive to Robina Town Centre, Bond University, Burleigh beach, sports stadium, hospital, Robina station, and the motorway.

PROPERTY FEATURES:
- Master bedroom with direct access to the balcony
- Open plan living and dining which flows through to the balcony
- Quality kitchen with dishwasher, oven and range hood
- Stone benchtops and surfaces
- Reverse-cycle air conditioning

COMPLEX FEATURES:
- Onsite manager to attend to your enquiries
- Open pool and barbecue outdoor entertaining facilities
- Secure parking space in the basement
- Pet friendly subject to Body Corporate approval

LOCATION BENEFITS:
- Short walk to Varsity Lakes CBD
- Short drive to Robina Town Centre shopping district, Bond University, Burleigh beach, sports stadium, hospital, Robina station and the motorway

FINANCIALS:
- Rental income currently $465 pw and increasing to $520 pw from 29 April 2024
- Body corporate fees increased in December 2023 from $120 to $170 per week and are likely to decrease once the current litigation is resolved, buyers are advised to do their own research regarding this matter and we will provide meeting minutes upon request
- The rental appraisal shows market potential for $500 - $550 per week
- Council rates approx. $1,250 half yearly
- Water rates approx. $300 quarterly

Disclaimer:
We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.
* denotes approximate measurements.