This week’s blog post is for one of my biggest critics and one of Modaokon’s biggest personal fans (well, at least I like to think) – MY DAD. He’s probably reading this right now while grumbling to himself, ‘When is she going to get a real job?’ however, one of the bonuses of me not having a typical job is that I can do stuff like this… like shamelessly plug his investment property for sale. Yes, this is definitely not my usual kind of house story which are usually about houses and the people who live in them, however, my dad does a ton for us and I thought I’d do a little for him. (This is actually what I used to do every week for years for The West Australian – visit properties all over Perth and write reviews on them. I know I am definitely a house nerd because I can honestly say it was so much fun).
So here is the place my dad just popped on the market – . It is a lovely, light-filled two bedroom, one bathroom serviced townhouse right that faces right onto the fishing boat harbor in Fremantle port. My sister Simone of took this amazing picture which shows the apartments, the harbour and the ocean beyond.
On a Crown lease, the townhouse is part of the Harbour Village Serviced Apartments complex which means no, you can’t live in it right now – but that is also what makes it an attractive investment, guaranteed money. Every year! For 75 years! It is leased to Holdings up to May 2093 (yep, that’s not a typo) by which point I imagine we will all have flying cars and the apartments will be heritage-listed. Just imagine. Fly to your heritage-listed seaside townhouse, dock your car in the water (cars will also float and double as boats) and kick back while your robot pours you a crisp glass of SSB. Very romantic.
The townhouse is on the market for $425,000 and receives a total return of $25,471 pa from the Harbour Village lease – a figure which represents a decent 6% return on investment. (Mr Nerd and I actually thought about buying it ourselves as an investment for OUR super until we realised it’s not the right timing for us ie: I’m too poor). But it’s ideal for people wanting something for their self-managed super or for investors who want to enjoy the benefits of a 6% return on investment and a property where you literally have to do nothing. Not just low-maintenance but no-maintenance,