This well-maintained block of units at 88 Gainsborough St, Moorooka offers a great opportunity for the savvy investor. This is your chance to acquire a constant cash flow spread over 5 investments with an attractive rental return. Moorooka has experienced some extraordinary growth and continues to perform as first home buyers and families in particular are gravitating to the strong community base and the convenience the location has to offer.
Sitting on an expansive 809sqm parcel of land, this immaculate brick and tile unit block is currently zoned LMR3 low-medium density (up to 4 storeys). Consisting of 3 x 1-bedroom, 1 bath, 2 car units & 2 x 2-bedroom, 1 bath, 2 car units. This 1980's-built complex has been immaculately maintained and updated and could be a sit and forget investment for many. There are also options to extend the complex and cash flow; strata title the complex; while others might landbank to develop in the future as the city plan changes.
Unit 1 & 2 sit at the front of the complex with unit one offering a ground floor unit without any internal or external stairs. Both of these units have 2 bedrooms, a spacious air-conditioned living area, updated kitchen, and designated dining room. The main bedrooms are air-conditioned, with a ceiling fan and built-in wardrobe. The modernised bathrooms are complete with shower and vanity with under bench and overhead storage. The laundry is internal and includes washing machine. The oversized garage can fit 2 medium cars tandem plus there is the bonus of a lock up cage for each unit.
Units 3, 4 & 5 are the 1-bedroom units and are located to the back of the complex. The spacious living areas are air-conditioned, with a separate area for the dining. The updated kitchens include the fridge and offer enough space for the avid cook. The bedroom is air-conditioned with a ceiling fan and built-in wardrobe. The modernised bathrooms are combined with the internal laundry and include the washing machines.
Each unit has had a quality upgrade and fully tenanted with a combined income of $123,240 per annum
UNIT 1 - 2 Bed, 1 Bath, 2 Car - $530 pw lease end July 2026
UNIT 2 - 2 Bed, 1 Bath, 2 Car - $520 pw lease end October 2026
UNIT 3 - 1 Bed, 1 Bath, 2 Car - $450 pw lease end October 2026
UNIT 4 - 1 Bed, 1 Bath, 2 Car - $440 pw lease end October 2026
UNIT 5 - 1 Bed, 1 Bath, 2 Car - $450 pw lease end October 2026
Offering a range of options for one discerning buyer - Invest under a self-managed superfund; a great investment all under one roof; or ideal to buy with your children's futures in mind to get them into the market, whatever your needs, opportunities like these don't come along that often.
Located just 450m from the Moorooka Train Station and 7 km from Brisbane CBD, this centrally located unit block is moments to local cafes, shopping centres, Moorooka Woolworths, and is within the Moorooka State School and Yeronga State School catchments.
Standout features of 88 Gainsborough St, Moorooka:
• 809sqm block zoned LMR 3
• Currently achieving $123,240 PA return. All units are tenanted - see write up for current weekly rents
• 5 units - 2 x 2 bedroom & 3 x 1 bedroom
• There is one ground floor unit with the other 4 units up one flight of stairs
• All units have been updated with quality renovations
• All units have air-conditioning in the living areas & main bedrooms + ceiling fans
• Each unit has an oversized garage with room for 2 medium cars tandem
• Lock up cages for each unit
• Laundries are internal to each unit which include a washing machine
• Invest under a self-managed superfund; a great investment under one roof; or ideal to buy with your children's futures in mind
• Conveniently located with walking distance to the train station
Contact Jane Elvin or Joey Elvin to discuss this outstanding opportunity further or we will see you at one of our opens.
Property ID: #L39040784
