We present a wonderful opportunity to acquire a cash flow investment of 3 units on one title on a 678sqm block in Brisbane's upcoming northern suburb of Kedron.
Generating a total annual income of $780 per week or $40,560 per annum. A great location, close to Chermside Westfield, easy access to ICB, Clem 7, CBD and close to public transport.
==PLEASE VIEW THE VIRTUAL TOUR==
Inspections are external only until under contract which will be subject to internal inspection.
The virtual tour provides a comprehensive look at all units.
Any open home times shown are EXTERNAL inspections only.
Potential options STCA could be –
* Land bank and hold $40,560 per year current annual income.
* Update unit 3 interior to increase rental return by approx. $60-70 per week.
* Knock down and rebuild new million dollar home - several examples in the street.
Accommodation -
Built 1970
2 x 1 Bedroom, 1 bathroom, 1 car space units.
1 x 2 bedroom, 1 bathroom, 1 car space unit.
Land Size – 678sqm
Land Valuation as at 30 June 2020 - $590,000
Dimensions - 16.2m frontage, 42.6m deep.
Income Breakdown -
Unit 1
2 bedroom, 1 bathroom, 1 car space, fully renovated kitchen, bathroom and living areas with split system air conditioning.
Leased till Dec 2020 @ $295
Been in property since Feb 2020.
Unit 2
1 bedroom, 1 bathroom, 1 car space, fully renovated kitchen, bathroom and living areas with split system air conditioning.
Leased till Feb 2021 @ $275pw
Been in property since Feb 2020.
Unit 3
1 bedroom, 1 bathroom, 1 car space, un-renovated original kitchen and bathroom.
On periodic lease @ $210pw
Been in property since 2015.
Total annual gross income approx. $780 per week or $40,560 per annum.
Rates = Approx $2088 per year
Water = Approx $600 per quarter or $2,400 per year
Property Management Expenses approx = 6% per year or $2,433
Net Income approx = $33,639
Properties are separately metered for gas, electricity and NBN but not water.
