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Overview
This recently renovated 2-bedroom apartment boasts extensive ocean views, set within a tightly held complex of 20 units. Positioned on a 99-year leasehold, the property presents a compelling investment opportunity delivering an approximate 6% return. It is especially suitable for investors looking for consistent income combined with lifestyle potential.
The apartment currently operates under a holiday management agreement, providing a hassle-free rental arrangement. Owners benefit from the flexibility to exit this agreement with a 12-month notice period, allowing personal holiday use of the property. It is important to note that the property is not approved for permanent residential living, aligning it more closely with holiday and investment purposes.
The lease term is structured to maintain long-term value, with 99 years remaining for any potential resale within a five-year period. This extended lease length ensures security and equity growth potential for buyers. The unit's features include built-in wardrobes, a deck for enjoying the views, an open fireplace for cozy comfort, and reverse cycle air conditioning to maintain comfort year-round.
With one bathroom and one parking space included, the apartment offers practical and comfortable living arrangements. Its location in a beachside community enhances its appeal, with natural surroundings and ocean vistas contributing to an attractive lifestyle option or holiday retreat.
Investors should appreciate the property's combination of steady return, lifestyle benefits, and flexible use options within this sought-after rental and holiday market. This property is presented as a smart option for those seeking a quality investment with future personal use possibilities, all within a secure, well-maintained community setting.
Local Market Insights
In Warrnambool And South West, Quiet Listings observed 14 new units entering the market over the last 30 days, down from 25 during the previous 30-day period, with an average advertised asking price of $429,993. The property type mix of listed properties is predominantly Houses at 54%, followed by land (36%), and commercial properties (4%). Ray White was the most active agency in this area, representing 27.7% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Skenes Creek VIC 3233
Market Insights for Skenes Creek VIC 3233
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