One title, one rates notice and NO BODY CORPORATE FEES – a rare opportunity for the astute investor.
Solid masonry unit complexes are always in demand, and opportunities like this are becoming increasingly difficult to find in Hermit Park. This well maintained complex of five masonry built units offers investors a secure income stream, excellent rental demand and future growth potential, all while enjoying the simplicity of owning five units on one title without the ongoing costs associated with body corporate fees.
At the asking price, this equates to $300,000 per unit – an exceptional opportunity to secure five solid masonry units in one of Townsville's most sought after inner city suburbs. Finding individual two bedroom units in Hermit Park at this equivalent price point is becoming increasingly difficult, making this a compelling investment opportunity.
Located in the highly sought after inner city suburb of Hermit Park, this property is within walking distance to schools, shops and public transport, and just minutes from the Townsville CBD, Mater Hospital, Castletown Shopping Centre and the V8 Supercars precinct. With convenience at your doorstep, it is easy to see why tenants love this location.
The property has benefited from previous upgrades, including the replacement of all kitchens completed a few years ago. As shown in the photos, Units 1 and 4 feature fully renovated bathrooms, while Units 2, 3 and 5 have also received bathroom upgrades.
Each Unit Features:
• Two generous bedrooms with built in robes
• Open plan tiled living and dining area
• Modern kitchens with upgraded appliances
• One bathroom
• Air conditioning throughout
• Security screens to doors and windows
• Dedicated undercover carport
Strong Rental Income with Future Upside
Several of the current rents are below today's market value, providing an excellent opportunity to further increase your return over time. Based on current market conditions, each unit has the potential to achieve approximately $400 per week.
With a current gross rental income of $1,800 per week, low holding costs, no body corporate fees and an equivalent purchase price of approximately $300,000 per unit, this property represents outstanding value for investors seeking both immediate cash flow and long term growth potential.
Current Rental Details:
Unit 1
• $360 per week
• Lease: 16/10/2025 – 19/10/2026
• Last rent increase: 16/10/2025
New lease has been signed 22/10/2026 - 25/10/2027 at $360 pw/ rent increase to $400p/w 03/12/2026
Unit 2
• $360 per week
• Lease: 17/02/2026 – 17/08/2026
• Last rent increase: 17/02/2026
Unit 3
• $400 per week
• Lease: 17/07/2026 – 17/07/2027
• Last rent increase: 24/11/2023
Unit 4
• $1,600.83 per month
• Lease: 01/07/2026 – 30/06/2027
• Last rent increase: 22/05/2024
Unit 5
• $330 per week
• Lease: 02/02/2026 – 08/02/2027
• Last rent increase: 18/08/2025
Property Features:
• Five solid masonry units
• 810m² allotment
• One title
• One rates notice
• No body corporate fees
• One insurance policy
• Low maintenance investment
• Individual undercover car accommodation
• Strong rental history
• Excellent tenant appeal
• High demand inner city location
This property also presents an excellent opportunity for investors, including those considering a Self Managed Super Fund (SMSF) purchase, to secure a quality income producing asset. With immediate rental returns, low ongoing holding costs and the potential for future rental growth, this is an investment opportunity worth considering. Purchasers should seek independent financial and taxation advice regarding their individual circumstances.
Rarely do five unit complexes of this quality become available in Hermit Park. Whether you are looking to expand your portfolio or secure a quality long term investment, this property offers the location, income and potential that savvy investors look for.
You know that old saying –"You snooze, you lose"
Call Doreen Charity on 0414 691 666 to arrange your inspection.
Disclaimer: We have, in preparing this information, used our best endeavours to ensure that the information contained herein is true and accurate. However, we accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.
