16/108 Kennedy DriveTweed Heads West NSW 2485
Property Details for 16/108 Kennedy Dr, Tweed Heads West
16/108 Kennedy Dr, Tweed Heads West is a 0 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1990. The property has a land size of 2203m2. While the property is not currently for sale or for rent, it was last sold in December 2021.
Last Listing description (January 2022)
KEY FEATURES:
- Freehold strata studio apartment
- 4 minutes from Kirra Beach
- Newly renovated
- New Daikin reverse cycle air-conditioner
- Tiled throughout
- Built-in wardrobe
- Includes reserved parking space within gated car park
- Low body corp fees
- Close to Southern Cross University and Gold Coast Airport
- Bus-stop located out the front
- Within walking distance of all amenities
- Outdoor pool and onsite laundry facilities
The apartment complex is a mix of owner-occupiers and long-term tenants, ranging from studio apartments up to 6-bedroom apartments.
FOR THE INVESTOR:
- Achievable rent: $295 pw (currently owner-occupied)
- Council rates: $48.17 pw
- Body corp fees: $32.44 pw
Sample breakdown:
Gross rental income: $15,340
Annual body corp fees: -$1,687
Annual Council rates: -$2,505
Net annual income: $11,148
Net rental yield: $11,148 / $222,960 x 100 = 5%
With a *net* rental yield in the region of 5%, this low-maintenance apartment represents an excellent opportunity for the astute investor to secure a new addition to their property portfolio, in what is a high-growth region of the coast.
At the time of posting, there are currently no other rental properties available under $300 pw on the Tweed Coast on either *** or Domain.com.au. A strong demand for lower-priced rentals in this region means a large pool of prospective tenants to select from.
Property History for 16/108 Kennedy Dr, Tweed Heads West, NSW 2485
- 22 Dec 2021Sold for $230,000
- 03 Nov 2021Listed for Sale $230,000
- 08 Dec 2020Sold for $121,000
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About Tweed Heads West 2485
The size of Tweed Heads West is approximately 11.2 square kilometres. It has 8 parks covering nearly 3% of total area. The population of Tweed Heads West in 2011 was 5,823 people. By 2016 the population was 6,192 showing a population growth of 6.3% in the area during that time. The predominant age group in Tweed Heads West is 60-69 years. Households in Tweed Heads West are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Tweed Heads West work in a trades occupation. In 2011, 64.7% of the homes in Tweed Heads West were owner-occupied compared with 63.1% in 2016.
Tweed Heads West has 3,480 properties. Over the last 5 years, Houses in Tweed Heads West have seen a 79.94% increase in median value, while Units have seen a 90.44% increase. As at 30 September 2024:
- The median value for Houses in Tweed Heads West is $1,013,226 while the median value for Units is $590,806.
- Houses have a median rent of $790 while Units have a median rent of $580.
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