SOLD
Sold on 15 Jul 2024 for $485,000

87/228 Varsity Parade
Varsity Lakes QLD 4227

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 59m2
Land area: 84m2
Sold By
Michael Gambaro
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Property Details for 87/228 Varsity Pde, Varsity Lakes

87/228 Varsity Pde, Varsity Lakes is a 1 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 2003. The property has a land size of 84m2 and floor size of 59m2. While the property is not currently for sale or for rent, it was last sold in July 2024. There are other 1 bedroom Unit sold in Varsity Lakes in the last 12 months.

Building Type
Unit
Year Built
2003
Floor Size
59m2
Land Size
84m2
Local Government
Gold Coast City
Lot/Plan
264/SP182411

Last Listing description (September 2024)

SOLD

Chancellor Executive Apartments has the unbeatable location adjoining Bond University, in the heart of the Varsity Lakes shopping precinct and a short stroll to Market Square Shops and Lake Orr.

This blue-chip property is perfect for the astute investor looking for a nice rental yield and capital growth, or ideal for the first home buyer wanting to lock in a spacious 1 bedroom with a massive 71sqm internal floor area.

Property features include:

Beautifully designed one bedroom with elevated high ceilings

* Sizeable 84sqm total area

Located on Level 3 (top level)

Oversized Bedroom

Dual generous sized balconies

Modern open plan living, with the lounge integrating into the beautifully designed kitchen with stone bench tops

Reverse cycle air conditioning

Well-appointed bathroom with bathtub and integrated with laundry facilities

Well maintained Building with great amenities, Pool, Gymnasium, BBQ Facilities, Conference Room

Helpful front desk Management Team

Underground secure car park

* Chancellor Apartments Full Furniture Kit is included in the Sale

Additional highlights:

About 10 minutes drive to the Gold Coast Beaches

Walking distance to Market Square, Bond University and Lake Orr

Short Drive to Robina Town Centre Shopping Centre, CBUS Stadium, Robina Hospital and M1 Highway

Financials:

Tenant in place until 01/05/2025 @ $580pw

Potential Rent of approximately $600-$620pw

Water Rates $1,200pa. approx.

Council Rates $3,600pa. approx.

Strata Fees - Please discuss with Agent

Please contact Exclusive Selling Agent Michael Gambaro on 0450 822 001 for all details and enquiries

Disclaimer

All information (including but not limited to the property area, floor size, price, address and general property description) on the Website is provided as a convenience to you, and has been provided to South Coast Residential by third parties. In placing the information on the Website, South Coast Residential has received the information passed on from third parties. Information contained on the Website should not be relied upon and you should make your own enquiries and seek legal advice in respect of any property on the Website or the information about the property contained on the Website.

Property Code: 46

Property History for 87/228 Varsity Pde, Varsity Lakes, QLD 4227

A timeline of how this property has performed in the market
Last Sold
$485,000
15 Jul 2024
  • 15 Jul 2024
    Sold for $485,000
  • 18 Jun 2024
    Listed for Sale $485,000
  • 14 Nov 2016
    Listed for Sale $279,000 - $339,000
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About Varsity Lakes 4227

The size of Varsity Lakes is approximately 5.9 square kilometres. It has 23 parks covering nearly 10.6% of total area. The population of Varsity Lakes in 2011 was 14,365 people. By 2016 the population was 15,000 showing a population growth of 4.4% in the area during that time. The predominant age group in Varsity Lakes is 20-29 years. Households in Varsity Lakes are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Varsity Lakes work in a professional occupation. In 2011, 51.9% of the homes in Varsity Lakes were owner-occupied compared with 51.3% in 2016.

Varsity Lakes has 8,047 properties. Over the last 5 years, Houses in Varsity Lakes have seen a 88.34% increase in median value, while Units have seen a 72.99% increase. As at 30 September 2024:

  • The median value for Houses in Varsity Lakes is $1,169,841 while the median value for Units is $755,001.
  • Houses have a median rent of $850 while Units have a median rent of $750.
There are currently 26 properties listed for sale, and 28 properties listed for rent in Varsity lakes on OnTheHouse. According to CoreLogic's data, 424 properties were sold in the past 12 months in Varsity lakes.

Suburb Insights for Varsity Lakes 4227

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Michael Gambaro
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South Coast Residential
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.