Top floor flat at bargain

Bedrooms Auction on Bedrooms $1.19 million Bathrooms Bathrooms Garage Garage Land Land THE owner of a new Manunda apartment might not have been able to get a loan but she will be the envy of all her friends when it gets out just how much she paid for a home 3km from the CBD.

Professionals Cairns South agent John Ryland was flooded with inquiries at the studio Bedrooms $1.23 million Bedrooms $1,195,000 Bathrooms apartment at 9/6 Chester Court before it sold last week for just $55,000.

It was the city’s cheapest sale last week, according to CoreLogic data.

“The buyer was a young investor, a first time investor trying to getting her foot in the door,” he said.

“It was no surprise at all it sold for that much, that’s Garage Bathrooms 2 Garage Land Land where the market is at right now. Some have sold for just below $50,000 in that block.

“It’s a good buy, it gets good rent. You had to be a cash buyer though, it was too small for banks to be lending on it.”

With a tenant paying $170 per week and body corporate fees coming in at $1779 a year, the unit in the secure Canopy Apartments development sold