Astute Investment, Significant Potential

All Offers Prior To Auction Will Be Seriously Considered

This astute investment comprises 3 x 2 bed flats and has a projected rental return of $55,125 per annum. The low maintenance, brick flats are on an elevated, corner 685m2 block of land that has potential for city views.

Centrally located in a pocket of Holland Park undergoing rapid revitalisation and redevelopment, the land is LDR zoned and has a high Council value, offering significant potential for the future while the flats provide a strong holding income.

- Flats are brick veneer construction
- All flats feature spacious light filled layouts, well proportioned, practical kitchens, sizeable bedrooms, 2 entries
- Each flat has under cover off street parking, garaging for 4 vehicles
- Potential for addition of secure, individual storage areas for each flat off designated parking area
- Cosmetic internal renovations of flats would add considerable value
- Always occupied, Units 1 and 3 have long term tenants
- Assured strong capital growth
- Less than 8 kms from the CBD, the property has effortless access to it via its close proximity to direct bus transport
- Inside the Seville Rd State Primary school and Cavendish Rd High catchment
- Moments to Greenslopes Hospital, 2 university campuses, Seville Rd café precinct, Coorparoo Square restaurant and cinema complex
- Whites Hill Recreational Reserve is in proximity offering walking tracks, playing fields and parks

SCHEDULE OF TENANCIES
- Unit 1 - 2 bed, 1 bath $305 per week, ending 23/3/22
- Unit 2 - 2 bed, 1 bath, $300 per week, ending 17/2/22
- Unit 3 - 2 bed, 1 bath, $280 per week, periodic lease
- Gross Rental income $46, 462 per annum
- Projected Rental income $55,125 per annum (3 x $350 per week)
OUTGOINGS
- Rates $1,271.41 per quarter excl sewer/water
- Insurance $2, 565 per annum

This property is being sold by auction or without a price and therefore a price guide cannot be provided.

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