Property Details for 303/60 Park Rd, Milton
303/60 Park Rd, Milton is a 1 bedroom, 1 bathroom Unit.
Last Listing description (February 2023)
This spectacular one bedroom fully furnished king bed apartment is one of the most desirable inner city properties. With Roma St Station Precinct upgrade (includes cross-River Rail) and new world class Queen's Wharf Brisbane both under construction, together with the bonus of the Olympic Games being held in Brisbane in 2032 this is a no brainer for the long-term savvy buyer.
The ideal buyer for this property is a businessperson or someone who visits Brisbane regularly for pleasure. It is the perfect home away from home. When not using your apartment, have the friendly onsite Cosmo Staff rent it out in the short-term rental pool for you. So easy. Cleaning and maintenance no problem - the on-site management will look after that for you also. Alternatively rent it out as an Airbnb. Apart from the cracking location, space inside and great city views, the next best thing about this apartment is that it's very affordable.
Please note, you cannot use this property as your principal place of residence (live in it as your home), however owners have good rights - call the agent for further details.
ABOUT THE LOCATION
Located on trendy Park Road
Walk to everything; restaurants, iconic hotels, cafes, bottle shop, shopping areas and cinemas.
Brisbane's most acclaimed Chinese restaurant "China Sea - Milton" is a resident in this complex.
Do you love sports and entertainment - Suncorp Stadium (home to last year's NRL Grand Final) is 1.0 km away
Walk to the Milton Train Station (two stops to the city)
Walk to Milton CityCat Terminal (one stop to the city, two stops to Southbank parklands and restaurants)
Walk to the City (approx. 2.3 km - 30 min)
Do you like walking, running, or cycling - fantastic riverside walkway is just 100 metres away
ABOUT THE APARTMENT
Stylish 4.5 star one bedroom king apartment of second top floor
Private balcony with fantastic views of the city
Free high speed WiFi recently installed
Rare, free car parking available when owner stays
Tasteful decor and furnishings
Self-contained kitchenette complete with kitchenware, two hotplates & dishwasher
• Washing machine and drier in bathroom
Sold fully furnished
Huge north-east facing private balcony
Airconditioned
Small gym and large sauna
Professionally managed by Central Cosmo Apartments if you choose
FINANCIAL INFORMATION ON THIS PROPERTY
The net revenue for May-Dec 2022 (8 months/39.29 weeks) was $12,473 or $317 p.w. after rental management fees, cleaning fees and maintenance costs. The gross revenue for this same eight month period was $26,708.
After rental management fees, cleaning fees and maintenance costs, the Net Revenue (Paid to Owner) for the last four financial years was $15,487 (FY 2018), $14,215 (FY 2019), $13,104 (FY 2020) and $17,787 (2021). The gross revenue for 2018, 2019, 2020, and 2021, respectively, was $31,831, $30,240, $26,122, and $28,810.
Note that because the daily rental rates have increased (about 20% across all apartments) early last year combined with the opening of our international and interstate borders to visitors, the net revenue is showing great signs of increasing significantly for owners.
Outgoings
Brisbane City Council Rates: Approx. $430 per quarter
Qld Urban Utilities (Water). Approx. $278 per quarter
Body Corporate Fees: Admin & Sinking Fund = $7,510.78 per annum (admin = $5,318.76 + Sinking Fund = $2,192.02)
Balance of Sinking Fund: $336,823.59 as of 17/08/2022.
For further information on this property, please call (0432 00 33 55) or email Jeff Smith. Want a virtual tour no problems. Watch the video also online.
Property History for 303/60 Park Rd, Milton, QLD 4064
- 30 Jun 2022Listed for Sale $315,000 Great Price!
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About Milton 4064
The size of Milton is approximately 1.3 square kilometres. It has 9 parks covering nearly 10.3% of total area. The population of Milton in 2011 was 1,987 people. By 2016 the population was 2,289 showing a population growth of 15.2% in the area during that time. The predominant age group in Milton is 20-29 years. Households in Milton are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Milton work in a professional occupation. In 2011, 34.9% of the homes in Milton were owner-occupied compared with 36.3% in 2016.
Milton has 2,817 properties. Over the last 5 years, Houses in Milton have seen a 31.21% increase in median value, while Units have seen a 28.69% increase. As at 31 October 2024:
- The median value for Houses in Milton is $1,518,192 while the median value for Units is $630,120.
- Houses have a median rent of $665 while Units have a median rent of $620.
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