This Property Is Now SOLD
Act fast to secure this incredible investment opportunity, which comprises a block of 5 strata title units, built in 1982 and positioned on a 809sqm lot with MU2 - Mixed Use zoning. The complex features 5 units (4 x 2 bedroom and 1 x 1 bedroom) all separately leased to individual tenants providing a total gross rent of approximately $97,760 gross pa.
The complex features 5 units (4 x 2 bedroom and 1 x 1 bedroom) all separately leased to individual tenants providing a current total gross rent of approximately $97,760 pa
NEW GROSS INCOME as from 11/06/2024 - $105,560 pa
Unit 1 is on the ground level and includes 2 bedrooms, 1 bathroom. New vanity in bathroom, Fresh paint. New lease to 26 July 2024 tenants paying $430 per week
Unit 2 is on the first floor level front and includes 1 bedroom, 1 bathroom. It has long term tenants lease to 17 June 2024 paying $300 per week - Increase to $350 p/w from 11/06/2024
Unit 3 is on the first floor level middle and includes 2 bedrooms, 1 bathroom. New kitchen, New vanity in bathroom, New carpet and freshly painted. New lease to 4 Sept 2024 tenants paying $450 per week
Unit 4 is on the first floor level middle and includes 2 bedrooms, 1 bathroom. It has long term tenants (16+ years) lease to 17 June 2024 paying $350 per week - Increase to $400 p/w from 11/06/2024
Unit 5 is on the first floor level rear and includes 2 bedrooms, 1 bathroom. It has long term tenants (20+ years) lease to 17 June 2024 paying $350 per week - Increase to $400 p/w from 11/06/2024
All tenants have been issued with a notice of rent increase - please call selling agent phone for more information
This convenient pocket of Chermside closely adjoins the Prince Charles and St Vincent Hospital precinct and is positioned just 9km from the Brisbane CBD. The apartment complex is within 10 minutes easy walk of Westfield Chermside Shopping Centre. The Westfield Chermside Shopping Centre now provides arguably the best shopping, cinema and restaurant precinct in Brisbane. Being a family friendly location, there are a variety of excellent private and public schools within a short proximity of the complex. Reliable bus transport is available within walking distance and the Clemt7 and Airportlink tunnels are located 10 minute drive away and provide a direct link to Brisbanes domestic and international airports and Brisbane CBD.
Key Features:
- A solid block of brick units are strata titled. The complex includes 5 individually rented units, providing an approximate annual gross rent of $97,760 gross pa.
- All 5 units are fully leased and present to a neat and tidy standard.
- The desirable location
- Each unit includes a lockup car space
- The units are strata titled and there are no body corporate fees
- Future development potential for a multi high rise unit complex (STCA)
Quick Facts:
- Land size 809m2
- Gross Annual Rent $97,760 gross approx. pa.
- School Catchments - Craigslea State School & Craigslea State High School
- Council Rates are $1,750 per 1/4 approx and Water and Sewerage are $929.07 per 1/4 approx.
- Insurance $3,880 pa
For further information or to arrange your inspection, please contact Nick Thornton 0407 736 046
Added 14 March, 2024
Property ID: #L26940363
