Fully leased gross yearly income $85280, Projected income on lease renewals $98,800. Site zoned CR1 (9.5m height limit) with 21.6m Enoggera Creek frontage and opposite a park. 5 unit complex comprising of 3 x 2 bed, 1 bath, 1 car + storage, + 2 x 1 bed, 1 bath, 1 car + storage. This apartment complex presents a superb opportunity in a sought-after precinct just 4.6km to the CBD. Ideal for investors or your SMSF, this high-income-producing asset boasts no Body Corporate and a prime leafy position with buses, cafes, and restaurants within walking distance.
The solid building features quality brick construction with dual staircase access to every unit. Each apartment includes a combined living/dining area with a kitchen, 1 or 2 bedrooms with built-in robes, a central bathroom and undercover tandem parking for 1-2 cars or 1 car + storage. Majority airconditioned. Additionally the building has two storage rooms.
With all 5 units consistently rented, you can start seeing immediate returns on your investment. Most tenants are long-term, 5+ years. For buyers wishing to capitalise further, there is potential to renovate the complex and generate higher rental income or redevelop the site (STCA).
Located in the highly sought-after suburb of Red Hill, the unit block is close to schools, Kelvin Grove State College, QUT Kelvin Grove and the Royal Brisbane Hospital, Suncorp stadium, shopping centers, parks, markets, cafés, entertainment and many dining options. Offering everything you need within reach. Additionally, the property's prime location ensures effortless commuting, with major highways and public transportation just moments away. It is also just a short drive to Paddington's famous shopping precinct and only 4.6km from the Brisbane CBD.
With the Brisbane Olympics just 7.5 years away in 2032, invest now in this block of units in a prime location, so close to the CBD and enjoy the returns and future capital appreciation. Please contact Dru on 0414 319 022 for more information.
