121/281 North Terrace

Adelaide SA 5000

Perfectly positioned East facing over Ayers House Gardens and opposite Lot Fourteen in the City's vibrant East End. This contemporary one bedroom apartment with allocated carpark set within the 'Palais' building, offers the perfect combination of lifestyle and investment in this landmark location. Nestled in an elevated first floor position on the Eastern side, this single-level sanctuary is ideal for first-time purchasers and investors alike.

Embraced by the beauty and historical buildings of North Terrace and only a stone's throw from the delights of Botanic Gardens and Rundle Mall precinct, this is the ideal setting to experience the buzz and excitement of the Adelaide Fringe, WOMAD, and all the various festivals and events that take place in the City and its parklands throughout the year.

Beyond the secure key FOB entry, this spacious apartment sparkles under soft downlighting and features warm carpeted floors through the open plan living/dining/kitchen zone, kept comfortable year round by the split system air-conditioner. The deep grey tile-floored kitchen maintains the apartment's streamlined efficiency with crisp white cabinetry including overhead cupboards and wine bottle storage, dishwasher, electric oven and cooktop.

This no-stress abode also offers secure lift access and designated basement car park (enter from either North Tce or Frome Road). Perfect for owners/occupiers - CBD workers, University/medical staff, or a City pad for out-of-towners, it is also a first class investment property and ideal accommodation for students with all educational facilities close by - Adelaide University campuses, Uni of SA, TAFE, Medical School, Royal Adelaide Hospital and schools such as Adelaide Botanic High School, CBC, St Aloysius and Prince Alfred Colleges.

Property is currently leased at $290 Per Week
Lease Renewal Approved Commencing 05/01/2023 - 11/01/2024 at $325 per week
Further Option to Lease Carpark space at $50 Per Week to Current Vendor
Possible Net Return of $375 Per Week Starting 05/01/2023

$300,000

OFFER FORM LINK
https://prop.ps/l/17XjdYyxI1Oq
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CT: 5941/590
Council: City of Adelaide
Council rates: $1,499.20 per annum (approx)
Water rates: $200.75 per quarter (approx)
Body corporate Levy: $536 per quarter (approx)
Sinking fund: $152 per quarter (approx)

RLA 275279