SOLD UNDER THE HAMMER!Ideally positioned less than 5km from Cairns CBD, this is the perfect investment opportunity to add to your property portfolio with potential returns of approximately $71,240 per year! Full tenancy in place with long term tenants, the complex is conveniently positioned close to both Primary and Secondary Schools, TAFE, sporting facilities and public transport.Land Details:- Single title on Freehold- Land use: Multi Unit dwelling (Flats)- Zoned: Low Medium Density Residential- 1,419sqm block of land Units Details:- 3 x 2 bedroom, 1 bathroom units- 1 x 1 bedroom, 1 bathroom unit- 4 x Secure CarportsConsisting of:- Large Bedrooms with built in robes- Each unit has an internal laundry, private rear yard and patio- Air-Conditioning- Security Screens throughout- Fenced grounds with easy to maintain landscaped gardensReturn Details:Unit 1 - Currently renting at $250/wk (New rental appraisal $320/wk)Unit 2 - Currently renting at $290/wk (New rental appraisal $350/wk)Unit 3 - Currently renting at $270/wk (New rental appraisal $350/wk)Unit 4 - Currently renting at $260/wk (New rental appraisal $350/wk)Total annual income $55,640/pa (Achievable annual income approximately $71,240/pa)- Council rates: $5,334.02 per half year- Water rates: Approx. $232.36 per quarterSummation: This is a tidy and well-maintained complex with the opportunity to achieve some of the strongest returns in residential real estate. Consisting of four registered units (on one title) with a current gross rental income per week of $1,070 for residential leases, with scope to increase gross profits through short term/holiday rental via Airbnb or renovate and maximise potential residential lease rental returns. This is truly a rare and exceptional opportunity for the astute investor. Call to arrange your inspection today!Auction In Room at LJ Hooker (81-83 Woodward Street, Edge Hill)and Online Via Realtair.13/02/23 at 5:30pm••Offers considered prior to Auction••This property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.Please note: Some virtual editing has been completed to remove personal items from images.
