46/1 'Manuka Service Apartments' Oxley Street GRIFFITH, ACT 2603

Choice of two fully furnished one bedroom serviced apartments representing exceptional buying for the astute investor. The fabulous returns make these a stress-free investment opportunity in a popular complex and a very sought-after location.

Manuka Park Serviced Apartments are ideally situated in the heart of Canberra's Inner South directly opposite picturesque Manuka Oval and within ten minutes drive (approx) from the Canberra CBD, and five minutes (approx) to Parliament House, the Parliamentary Triangle and many of the City's major tourist attractions. This incredible location is also within an easy stroll to the many boutiques, famous restaurants and nightspots of Manuka and Kingston.

The complex also features a swimming pool in a garden setting, on site management and secure undercover car parking.

Each of the apartments has been renovated (approx 2006) and offers:

Air-conditioned and heated comfort
A fully equipped kitchen including a microwave and dishwasher
Pleasant views from a private balcony
Large LCD high definition TV
Foxtel television
A combined modern bathroom and laundry with washing machine and clothes dryer
A non-smoking environment which is meticulously serviced on a regular basis

The 2010 calendar year income payments to the owner from the complex were $30,028.17 for each property after expenses. General rates (approx $940 per annum), Body Corporate (approx $2,916 per annum), Land Tax (approx $1,050 per annum) and Water Usage (approx $500 per annum variable) are additional.

2010 Income from complex = $30,028 (approx) per apartment

Less:
General rates: $ 940 (approx) per apartment
Body Corporate: $ 2,916 (approx) per apartment
Land Tax: $ 1,050 (approx) per apartment
Water charges: $ 500 (approx variable) per apart

2010 NET INCOME = $24,622 (approx) per apartment

This represents an approximate net return (after expenses) in excess of 7.2% per apartment which is so good your accountant may want to buy one too!

Subject to availability, the owner's can also use the apartment(s) themselves at reduced rates when staying in Canberra.

Buy one, buy the other one or buy both!

EER: Unit 46 - 5.5, Unit 47 - 4.5

For further details please contact Tim Stafford of Ray White Queanbeyan | Jerrabomberra on 0412 000 841 or email: tim.stafford@raywhite.com