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Off Market

902/108 Margaret Street

Brisbane City QLD 4000

1
1
19 m²
Unit
Last sold for $180,000
Stephen PahlStephen Pahl, last sold this property on 23 November 2023 after 106 days on market.

Overview

SOLD BY STEPHEN PAHL

New to market - this Studio apartment workhorse is an exceptional investment with added options to live in yourself, use as a Brisbane base, traditional lease, or airbnb - the choice is yours. Current 12 month lease in place at $337.50 per week to March 2024. 108 Margaret is conveniently located close to QUT University, the new Queens Wharf Precinct, Queen Street Mall, Botanical Gardens and there is a multitude of dining, shopping, recreation and entertainment options available almost right at the door. The complex is also located within 300m of the new Queens Wharf Entertainment Precinct which will have an ongoing positive impact on property values at this end of town. This apartment benefits from a very strong and stable Body Corporate with a current sinking fund balance in excess of $1.1 million. Annual Body Corporate fees are a very low $2,873 in total including Electricity. Currently leased for $345 per week (or $17,940 approximate gross income a year), delivering an approximate gross yield in excess of 10%. Apt 902 is a slightly larger floor plan on the 9th level featuring open plan studio, kitchen, study nook and a separate bathroom. It is neat, tidy and well presented, with excellent potential for the near future as Brisbane prepares to host the 2032 Olympic Games. The complex is a well constructed high quality building, well maintained and well managed, offering excellent common facilities, rest and play sports, with multiple lounge-rooms, study room, communal laundry and communal kitchen with dining room. There is also an outdoor area and an in-ground pool. - One bedroom studio apartment - Fully furnished - Ideal central Brisbane City location - Very Low Body Corp fees - Heathy sinking fund - Live in, rent out, use mid week, or airbnb - no limitations 108 Margaret Street features: - Common area with free WiFi - Recreation room - Lap Pool - BBQ area - Laundry - Communal Kitchen - Onsite Management / 7 days per week - Cafe and convenience store - Short Walk to Queensland University of Technology Financials - - Leased for $337.50 per week - Rates approx. $1800 pa - Water - approx. $1,100 pa - Strata is approx. $2,873 pa, all inclusive - (admin, sinking fund, power, and insurance) - Sinking fund balance approximately $1,334,391 as at 10 October 2023 - ROI is exceptional - yielding gross over 10% ** Please Note: The photos are of the actual apartment - however to maintain the tenants privacy, the furniture is virtual.

Features

1 bedroom
1 bathroom
19 m² floor area
Unit

Estimated Value

Based on this property and similar 1 bedroom units sold in Brisbane City over the last 12 months, the estimated median property value of 902/108 Margaret Street is $542.5k.

Median value
$542.5k
Estimated value range
$250k - $1.54m
Median days on market
25
Estimated value trend
28%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Brisbane City. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 902/108 Margaret Street

2023
Sold
$180,000
23 Nov 2023 by Stephen Pahl, of Hugo Alexander Property Group Fortitude Valley
2022
Sold
$160,000
06 Dec 2022 by Stephen Pahl, of Hugo Alexander Property Group Fortitude Valley

Happy sellers in Brisbane City

91%
91% of sellers in Brisbane City reported that their sale price either exceeded or met their price expectations.

Brisbane City stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 85 reviews in Brisbane City over the last 12 months.

Local market activity for 1 bedroom units in Brisbane City

In the last 12 months, 30 one-bedroom units similar to 902/108 Margaret Street, have been sold.

This represents a 48% increase in one-bedroom units sales when compared to the previous 12 months.

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