Offered to the market for the first time since 1991, this tightly held six unit complex presents an outstanding opportunity to secure a substantial income producing asset in an exceptionally convenient West Mackay location.
Importantly, significant capital works have already been undertaken, including a new roof, new carport structure and recent improvements to two of the units, including new bathrooms. For the incoming owner, this provides an attractive platform from which to focus on improving return on investment rather than immediately confronting major building works.
The opportunity from here is twofold: retain the complex as the solid, established investment it is today, or continue a progressive improvement program across the remaining units over time, with the potential to enhance presentation, rental performance and overall return.
Comprising 6 x two bedroom, one bathroom units with individual single car accommodation, the property provides six separate income streams within one established residential holding.
Location is another major strength. The property is within walking distance of Parkside Plaza Shopping Centre, anchored by Coles, walking to distance to extended operating hours IGA, while Mackay Base Hospital is approximately 2km away. The Paget Industrial Hub - one of Mackay's major employment and workforce precincts - is approximately 3.5km away, as is Caneland Central Shopping Centre, with the beach approximately 3.9km from the property.
Investment highlights include:
6 x two bedroom, one bathroom units
Six individual income streams
New roof recently completed
New carport structure
Two units recently improved, including new bathrooms
Opportunity to progressively improve the remaining units and pursue further rental upside
Dual street frontage to Bridge Road and Mary Street
Vehicle and carport access via quiet one way Mary Street
Walking distance to Parkside Plaza Shopping Centre and IGA
Approx. 2km to Mackay Base Hospital
Approx. 3.5km to the Paget Industrial Hub
Approx. 3.5km to Caneland Central Shopping Centre
Approx. 3.9km to the beach
Tightly held by the current ownership since 1991
For investors looking beyond a standard residential holding, 278 Bridge Road offers scale, multiple income streams and genuine scope to add value, with some of the property's most significant capital expenditure already completed.
The property is being offered for sale as one complete complex.
A comprehensive Information Memorandum, including tenancy information, property details and further investment information, is available upon request.
Disclaimer:
The Agent does not give any warranty as to errors or omissions, if any, in these particulars. The provided information from the Vendor can be deemed reliable but not accurate. Any persons interested in the property should conduct their own research.
