What a unique purchase this property was!
A small studio apartment which had a galley kitchen, corner bathroom and an open bed/living space with an enormous 200m2 balcony rooftop area.
When the team purchased the property the first thing we got to was converting this rooftop into a functional space.
We constructed balustrade around the externals for safety, re waterproofed the gutter lines and then laid artificial turf on the ground. Next up was creating an undercover area, so a pergola area was built to create a large outdoor entertaining space.
The apartment didnt have air conditioning so this was installed as well as installing a brand new hot water boiler.
The plumbing of the property had some issues within the wall causing dampness and some mould so we had the wall reconstructed and the plumbing all re done to stop this occurring. The walls were then re wallpapered and finished.
This studio has been predominantly on the short term market earning around the 12-14% ROI. During the winter months, we’ve moved it onto the Long term market for 3-4 months earning around 8.5%
This unique apartment has been picked up by the team.
In a fantastic location just a stones throw from the tourism walking street.
Currently about to undergo a full renovation we will be completely stripped with the following to be completed
Once completed the only remaining points will be a furniture fitout.
50% Partnership available for $22,000 USD
