An excellent opportunity to acquire a fully tenanted - and therefore SMFS eligible - multi-unit income asset in an area with a critically low vacancy rate attracting strong tenant demand.
10 Thompson Street is a two-level, fibro-clad complex comprising three self-contained units - two x 2-bedroom/1-bathroom and one x 3-bedroom/1-bathroom - set on a level allotment.
* Two-level, fibro-cladded complex with tin roof.
* Comprised of two 2-bed/1-bath units, and one 3-bed/1-bath unit - all currently tenanted.
* Individual single, lock-up garage for each unit.
* Currently fully tenanted on fixed terms tenancies until November 2026.
* Generating a gross yearly income of $71,250.
* Appraised to generate a gross annual income of $81,640.
Rental Income:
Unit 1: $600/week - par market-value - leased until Jan '27
Unit 2: $400/week - appraised as $450-$480/week - leased until Nov '26
Unit 3: $370/week - appraised as $450-$480/week leased until Nov '26
Current annual gross income: $71,250
Appraised gross annual income: $81,640
Standard outgoings:
Council Rates: approx. $4,070 per annum
Water Rates: approx. $960 per annum
Total standard outgoings: approx. $5,030 per annum
Current indicative net income: approx. $66,220 per annum - 4.4% yield*.
Appraised indicative net annual income: approx. $76,610 per annum - 5.1% yield*.
*Outgoings subject to a wider range of variation (i.e. insurance and management fees) have been excluded from these calculations, and the produced figures are indicative only. Purchasers are encouraged to obtain their own quotes and carry out calculations accordingly.
Set in Murwillumbah's established eastern residential precinct, the property sits within walking distance of Murwillumbah Primary School and 1.1 km from the CBD - positioning it squarely in the path of the area's core tenant demographic: working families, essential service workers, and long-term local renters who value proximity to schools and amenities over coastal premiums.
With a critically low vacancy rate below 0.7% and no meaningful new unit supply in the pipeline, tenant demand at this price point is structural, not cyclical.
* Gold Coast Airport: 35 minute drive
* Tweed Valley Hospital: 30 minute drive
* Kingscliff beaches: 20 minute drive
* Byron Bay: 45 minute drive
* Brisbane CBD: 90 minute drive
Disclaimer:
All information (including but not limited to the property area, floor size, price, address, distances and time travel time and general property description) is provided as a convenience to you, and has been provided to First National Real Estate Murwillumbah by third parties.
Information should not be relied upon and you should make your own enquiries and seek legal advice in respect to all information about the property contained in this advertisement.
