PRIME INCOME ASSET | VALUE-ADD OPPORTUNITY | 8.9KM TO CBD
Four incomes. One title. No body corporate. And a value-add story that starts from day one.
64 Clifton Street sits in one of Moorooka's most sought-after pockets — directly beside Mackenzie Place Park, with Billykart Kitchen and a busy neighbourhood retail strip right across the road. It is the kind of location that attracts quality long-term tenants and holds them.
Fully tenanted and generating $2,220 per week ($115,440 per year), this block of four 2-bedroom units on a single 931m² freehold title is a set-and-forget income asset — with a clear, low-cost pathway to lift yield significantly from day one.
The Numbers
Price Guide: $2,350,000 – $2,450,000Gross income: $2,220/pw | $115,440/yrNet income (after all known outgoings): $92,819/yr | $1,785/pwGross yield: 4.81% | Net yield: 3.87%All leases expiring late 2026 — clean transition for a new owner
THE VALUE-ADD OPPORTUNITY
The current owner has left real upside on the table. Three low-cost improvement phases have been identified — each implementable at lease renewal with no vacancy impact:
Phase 1 — Security, storage & laundry upgrade (under $4,000)Divide and secure the undercroft to give each tenant a private lockable space and coded laundry access. Estimated rental uplift: +$170–$250/pw. First-year ROI: 221%–325%.
Phase 2 — Sub-meter water charge-back ($2,400–$4,200)Install approved sub-meters and recover water usage from tenants under Queensland tenancy law. Annual saving: ~$756.
Phase 3 — Kitchen, bathroom & window refresh ($10,000–$15,000 per unit)Targeted cosmetic refresh — not a full renovation. New tapware, vanities, splashbacks and blinds. Estimated uplift: +$70–$100/pw per unit.
Combined result after all three phases:→ Gross rent: $2,720–$2,900/pw→ Gross annual income: ~$141,000–$151,000→ Net yield on $2.4M: 5.10%–5.37%→ Implied property value at 4.5% yield: $3.1M–$3.2M
NDIS / SIL ACCOMMODATION POTENTIAL
The property ticks several key suitability criteria for NDIS Specialist Disability Accommodation (SDA) or Supported Independent Living (SIL) registration — park-adjacent, bus stop at the gate, cafés and services within walking distance, and Unit 1's separate ground-floor entrance well suited to accessibility modifications.
SIL/ILO registered units in inner Brisbane typically return $800–$1,200/pw per unit. At an average of $900/pw across all four units, gross income could reach approximately $187,200/yr — a gross yield of ~7.8% on the $2.4M midpoint.
Please note: NDIS and SIL accommodation is a specialist pathway, not suited to every investor. It requires genuine commitment to participant wellbeing and engagement with the accreditation framework. Local Property Team manages an extensive NDIS/SIL rental pool across South East Queensland and would be happy to discuss this further with interested purchasers.
THE PROPERTY
Unit 1 — The Standout ($570/pw)Largest of the four, originally designed as an owner/manager residence. Polished hardwood floors throughout, air-conditioned lounge opening to a private deck, renovated kitchen with new cooktop and oven, refreshed bathroom. Downstairs: exclusive double tandem garage, private laundry, large storage/workshop, separate toilet.
Unit 2 ($550/pw)Polished hardwood floors, two well-sized bedrooms with built-in robe in master, new stove, ceiling fans, dedicated undercover car space.
Unit 3 ($550/pw)New carpet in bedrooms and lounge, new stove, vinyl kitchen floor, ceiling fans, dedicated undercover car space.
Unit 4 ($550/pw)Polished hardwood floors in kitchen and lounge, new carpet in both bedrooms, built-in robe in second bedroom, new stove, ceiling fans, single carport.
Units 2, 3 and 4 share an undercover laundry with individual washing machine bays.
Property Code: 1445
