35/400 Ruffles Road

Willow Vale QLD 4209

Here is a chance for you to secure a very rare property as a owner occupier or investor with a secure income source. The property can either be leased out or you can live in this yourself making this a very affordable home. There are NO council water rates at this property as Spear Pumps are fitted. This hill top property features: 2 bedrooms Open plan living design Split system air-conditioning Bathroom with spa bath + toilet Fully functional kitchen Large outdoor balcony Electronic gated estate Facilities include swimming pool, tennis court & walking trails Live in there yourself: Should you wish to live in there yourself, the only expenses are body corporate fees, council rates and building insurance. Rent it out: Should you wish to rent this property out as as investment, below are the approximate figures for you: Yearly rental income = $18, 200.00 (based other chalets we have leased at $350 per week) LESS yearly expenses: Body corporate fees = $2926.47* (Admin Fund $2, 062.50 + Sinking Fund $864) (approx per year) Council rates = $1, 130 (no council water charges payable due to spear water) Building Insurance = $170.49* (approx) Rental Management fee = $1, 501.50 NETT INCOME approx = $12, 471.54 *(Please note that these are approximate figures only) Borrowing funds? Current known lenders include:Suncorp, ANZ and Bank of Queensland. Due to smaller property size, some banks will lend 60%-80% of the sale price. Cash or equity in other property will be required for the balance. Common FAQ: 1). What are the vacancy rates? Answer:Vacancy rates are based on how you wish to rent out the property. As with all the other properties, houses, units, apartments we manage on the Gold Coast and Brisbane we recommend you obtain long term tenants with 6 month leases minimum and 12 months preferable and give tenants to option to continue renewing their leases to avoid any vacancy period. 2). Who is managing the properties? Answer:As we have many years experience there and a well established property management division our agency we manage the properties. 3). Are there any restrictions or permission needed if I want these in the future? Answer:No restrictions, this is just like any other normal property, you can rent, sell them whenever and to whomever you want. 4). Are these strata titled, do I own any of the land? Answer:Yes, just they are just like owning any other property, townhouse or duplex. You own the land size written in the description. 5). How many Chalets are there? There are 38 Chalets in the retreat with the log style 1 bedrooms on the left side of the retreat and the highest 2 bedroom homes on the right boundary of the retreat 6). How old are they? Originally built in 1992 and 1993 7). Is the sale freehold or leasehold? The sale is strata title freehold meaning you own the title to the property just like any other normal property. 8). Would you experience capital growth? Like most property investments it is subject to the forces of the property market including, supply & demand, interest rates, consumer confidence, etc. Historically these chalets keep rising in value immensely each time once becomes available which is very rare. 9). What common area land title does the Body Corp fee maintain? Approx 81 hectares of common area 10). Do the chalets run on Town Water? Answer:No, the chalets run on unlimited spear water, so NO council water charges are payable. 11). Is the complex on Septic or Town sewerage? Answer:Septic tanks are in use.