Attention Investors! Golden Opportunity on Quarter Acre, up to 7.5% Return!
This block of 4 x 2 bedroom fully tenanted units presents a rare opportunity for investors to enter Townsville’s BOOMING rental market. Designed as a block of units (has not been converted), this gorgeous big Queenslander sits proudly on a huge 1012sqm block, allowing opportunity for potential redevelopment in the future.
The property consists of 4 two bedroom, one bathroom units, each with their own private internal laundry and covered car accommodation, safely located at the rear of the property. The units are generous in their proportions, featuring large entries, spacious lounge rooms with high ceilings, gorgeous polished floorboards and modern bathrooms, while plenty of Queenslander character and charm has also been retained.
Located close to the CBD, this property is just minutes from the beach, Queensland Country Bank Stadium, ample restaurants, bars, parks and is within close proximity to Castle Hill, Flinders Street and The Strand. This premium location means very little vacancy time between tenants.
There is room for rental return improvement here but the property is already showing a very credible 6.8% gross return on asking price.
- Currently on one title, therefore NO body corporate
- Potential for further development subject to council approval
- 4 steady rental incomes currently sitting at approx. 6.8% gross return (see below)
- Covered parking for all 4 units at rear
- Each unit is in great condition featuring modern kitchens and bathrooms
Rental Appraisals:
UNIT 1 - $300-$310 per week
UNIT 2 - $300-$310 per week
UNIT 3 - $300-$310 per week
UNIT 4 - $300-$310 per week
That’s a potential return of up to $64,480 per year – which equates to an impressive approx. 7.5% Gross rental return!
Council Rates (Includes water): Approx. $6450.20 half yearly
Current Leases Agreements (Quality Tenants):
UNIT 1 - $280 p/w until 28.9.23
UNIT 2 - $270 p/w until 20.9.23
UNIT 3 - $300 p/w until 8.12.23
UNT 4 - $260 p/w on a periodic lease
Current yearly return $57,720
Opportunities like this don’t come along often and with accommodation in HOT DEMAND in Townsville, this property will not last long! Call Catherine to arrange an inspection of this truly glorious property.
*Please note, some virtual furniture has been used.
