Better than cash in the bank
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 are –
• Land bank and hold with approx. $59,000 per year current annual income.
• Update the unit interiors to increase rental return by $50-70 per week per unit.
• Raise the floor level to add car parking under the building and if combined with interior renovations could add around $100 per week per unit, subject to council approval.
• Demolish or Redevelop the site subject to council approval.
With 5 units on single title, the property can be financed as a residential loan with many banks avoiding the need for more expensive commercial finance and likely creating a cash postive investment.
The property is for sale now. Contact us for a full information package.
Accommodation – 5 X 1 Bedroom units on single title.
Land Size – 630sqm
Land Valuation as at 30 June 2019 – $570,000
Unit 1/15 Quandong
Leased till 21/11/19 @ $225pw
Tenant has been in property since 2012
Unit 2/15 Quandong
Leased till 09/10/20 @ $240pw
Tenant has been in property since 2014
Unit 3/15 Quandong
Leased till 9/3/20 @ $230pw
New lease siugned in September 2019
Unit 4/15 Quandong
Leased till 01/01/20 @ $200pw
Tenant has been in property since 2018
Unit 5/15 Quandong
Leased till 17/09/19 @ $240pw. Tenant will be vacating.
Tenant has been in property since 2016
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
NB – The property did not flood in any of the prior flood seasons.
Boundary lines and sizes are approx.