502/16 Holdfast Promenade, Glenelg

Bed 1
Bath 1
Car 1
Sold $435,000
5.99% Absolute Nett Return - What An Amazing Opportunity!

Inspections by Appointment only.

Perched on the 5th floor with fabulous views over Colley and Wigley Reserves with the Mount Lofty Ranges as a backdrop. Complete with a private balcony and allocated car park.

RECENTLY REFURBISHED to the tune of $20,000, this apartment is currently leased back to the Oaks Glenelg Plaza Pier Suites and has shown a return of 5.99% over the past 12 months. This is (nett after rates and taxes) including Hotel Management (13.2% Incl GST), Rates and Community Title Fees. Annual revenue has been over $66,000 with an occupancy rate of 90% for this period.

Alternatively, you could enjoy a carefree live-in lifestyle with all the benefits on offer such as bars and restaurants, plus the indoor lap pool, heated spa, sauna and gym (all on level 2) and a cozy little gaming room if you enjoy a flutter.

Tram it to the City, or just enjoy the bustling Jetty Road precinct with all its restaurants and cafes at your fingertips. No need for a car. You have a myriad of options here.

Anyway you look at this offering, it's got to be a sound investment for the long term.

CT / 5886/837
Council / City of Holdfast Bay
Council Rates /$1,104.20pa
SA Water / $586.60pa
ES Levy / $101.50pa
Admin Fee / $6,596pa
Sinking Fund / $328pa

Gary J Smith
You're Home
RLA 150557

Property features

Air Conditioning
Built in Robes
Area Views
Beach Front
City Views
Close to Schools
Close to Shops
Close to Transport

Contact Agent

John Laycock
John Laycock


Suburb Profile

Glenelg Sa 5045

Explore prices, growth, people and lifestyle in Glenelg

Contact Agent

John Laycock
John Laycock