For Sale Over $800,000

Better than cash in the bank

Land/Development - ASHGROVE QLD

We present a wonderful opportunity to acquire a cash flow investment in the blue-chip suburb of Ashgrove QLD generating a total annual income approx. $1,135 per week or $59,020 per annum.
Potential options could be –
• Land bank and hold with approx. $59,020 per year current annual income.
• Update the unit interiors to increase rental return by approx. $50 per week each
• Raise the floor level to add car parking under the building and if combined with interior renovations could add around $100 per week of income, subject to council approval.

Accommodation – 5 X 1 Bedroom units on single title.
Land Size – 630sqm
Land Valuation as at 30 June 2019 – $570,000

Income –
Unit 1/15 Quandong
Leased till 20/11/20 @ $225pw

Unit 2/15 Quandong
Leased till 08/1/21 @ $240pw

Unit 3/15 Quandong
Leased till 09/03/20 @ $230pw

Unit 4/15 Quandong
On periodic lease @ $200pw

Unit 5/15 Quandong
Leased till 23/10/20 @ $240pw

Total annual income approx. $1,135 per week or $59,020 per annum.

Rates – Approx $1255 per quarter or $5020 per year
Water – Approx $1000 per quarter or $4,000 per year
Insurance currently with RACQ Bank – $2,200 per year (with excess set at $2500).
Property Management Expenses approx. 6% per year or $3,572
Net Income = $44,228

Properties are separately metered for gas, electricity and NBN.

Boundary areas shown are approx. Internal Pictures and virtual tour are of unit 3.

Property Features
  • Land/Development
  • Land is 630 m²
  • 5 Car Spaces
Daniel Goodwin
Daniel Goodwin
Chief Executive Officer
0412 656 600
1800 13 22 64
A key influencer in the Property Investment industry, Daniel Goodwin brings a wealth of experience to the Prowealth team as the Chief Executive Officer. Daniel’s a licensed real estate agent in Queensland and New South Wales, has a Degree in Business from the University of Newcastle and a Diploma of Financial Planning. He is the author of the best selling book '10 Secrets of Professional Property Investors', and sits on the Board of Directors of companies within the Prowealth Group. Highly knowledgeable of market trends, Daniel is a regular speaker/commentator on real estate topics. If you’re about to invest in property you can rely on Daniel's advice.
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