SOLD BY CLIVE O'KELLY - RAY WHITE WEST END
- 10 Beds
- 5 Baths
- 4 Cars
5 x 2 Bedroom Units, Fully Tenanted complex two suburbs from the CBD
This low-maintenance and fully-tenanted complex consists of five two-bedroom, one-bathroom apartments neighbouring Kelvin Grove Village and within the sought-after Kelvin Grove State College catchment. The owner situation has changed and needs to sell ! ! !
There is no body corporate as the property has just the single title, so it is an easily managed investment which offers potential to further develop, subject to council approval.
The gross rental income is already $70,000 per annum however there is the option to reconfigure or renovate and increase this figure, as student accommodation 10 Bedrooms (Increase to $90,000+ pa)...
The complex, which has recently had a new roof added and the exterior repainted, is on a 787sq m parcel of land with 19.7m street frontage.
Tait St is only 3km to Brisbane's CBD and walking distance to Queensland University of Technology's Kelvin Grove campus, Kelvin Grove State College, Kelvin Grove Village, the Royal Brisbane and Women's Hospital, Ballymore Stadium, Newmarket Village shopping centre, Enoggera Creek Bikeway and public transport links.
Major road networks to the CBD, Brisbane Airport, Gold Coast and Sunshine Coast are easily accessible.
While an alluring lifestyle featuring cafes, shops, parks, markets and sporting facilities draws a healthy mix of students, corporates, medicos and young families.
This is a sound solid and profitable inner-city investment.
- Low maintenance, fully-tenanted complex in popular university and school catchment
- Five two-bedroom, one-bathroom apartments
- No body corporate, single title, easy management
- Gross rental income of $70,000 per annum, renovate and potentially increase this figure
- LMR zoning to further develop (STCA)
- Recently repainted exterior and new roof added
- Land size 787sq m with 19.7m street frontage
- Walking distance to parks, cafes, Kelvin Grove Village and Kelvin Grove State College
- 3km from Brisbane's CBD, close to Airport and major road networks
Unit 1 - $240 per week (reliable long-term tenant)
Unit 2 - $280 per week
Unit 3 - $270 per week
Unit 4 - $280 per week
Unit 5 - $260 per week (reliable long-term tenant)
Council Rates: $1,256 per quarter
4 garage spaces
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