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9/45 King William Road, North Adelaide SA 5006
$320K - $340K
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5+5+5 Year Lease – A Rare Opportunity

PRICE ADJUSTED - AWESOME BUYING IN BLUE CHIP SUBURB

A truly unique offering, your chance to secure an apartment in the Iconic Art Deco “Greenways” Complex.
1 year into the first 5 year term, the property is leased back to Greenways @ $320 per week (CPI increases apply)… imagine NIL VACANCY… income 52 weeks of the year… NO management fees…NO letting fees and NO basic maintenance fees.. it’s the ultimate low risk investment AND its positioned in a Blue Chip Suburb… North Adelaide.. on the very edge of the CBD.
The well presented property is conveniently situated on the ground floor and comprises 3 bedrooms, big separate lounge, modernised kitchen and bathroom and allocated car park.
This may in fact be the ultimate property to buy with your superannuation, the ideal addition to balance out your existing portfolio or the perfect “low stress” 1st investment property.
At the expiration of the lease agreement the apartment can be owner occupied, so maybe buy now and when you’re ready to downsize in years to come you have the perfectly positioned property, let someone else pay for your retirement nest egg.
READ THIS: As we said this is not a typical investment, so then let’s look at a “typical” scenario. Say a property similar to this rented @ $ 380 per week with industry standard management costs including 7.7% management fee, 2 weeks a year vacancy, 4 x routine inspections, 12 x monthly p & p, EOFY statement, re -letting/lease renewal, re-letting advertising and allowance of $1,000 for minor maintenance all equals $4523 per annum… that’s $86 per week. Why is this scenario SO important? Because with this investment you pay NONE of this. When calculating a return on investment you must use the NET yield NOT the gross yield. SO the property rented @ $380 per week minus the $86 = net yield of $294! Let’s not forget the hassles of the management! OF course, this is only our thoughts and we recommend you speak to your accountant.

Opportunities like this rarely come along… a tightly held group that seldom sees the market. and why?... Because it’s all about the long game!

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Council: City of Adelaide
Council rates: $407.20 P/Q
Strata rates: $732.70 P/Q
Water rates: $151 P/Q

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