This is a superb opportunity and at this property it can be so easy to make good money … so make sure you read on…
The current Seller is actually achieving an 8.0% (approx.) Gross Return and the yield isn’t even maximised. After their current costs, it is actually yielding a 7.5%+ Nett Return based on a $98,000 nett income. This is basically unheard of in main-stream residential property. The kicker is … this property actually is a main-stream residential property. In fact, it is two properties in one.
The opportunity sits on two lots, being 1/60 & 2/60 Bishop St, St Lucia. The homes themselves are in excellent condition. They are clean, tidy, low maintenance and close to all that St Lucia has to offer. This is a superb investment in an area of Brisbane that ticks all of the investment boxes.
The features are as follows (but certainly not limited to):
• 1 x Post War Home whilst the 2nd Home was constructed in 1991;
• The 2 lots bring the total land area to a valuable 571sqm;
• Hardwood timber flooring, tile roof, rewiring & new plumbing;
• Both homes have separate electricity & gas meters;
• Properties are furnished with Lounges & Televisions;
• Kitchens have freestanding ovens / fridge and dining area;
• Two separate laundries with washing machines & dryers;
• All bedrooms feature a desk, ceiling fans & cupboard with Data; &
• Full code compliance with sensor lighting and good security.
Not only does this property offer ideal investment criteria, it also offers the following location and lifestyle benefits that this prestigious suburb of St Lucia has to offer:
• 100m to Bus for UQ and/or the CBD;
• 1.5km from the University of Queensland;
• 1km from City Cat Terminal;
• 3km from Indooroopilly Shopping Centre;
• 6km from Brisbane CBD; &
• School catchments such as: Brisbane Boys College, St Peters Lutheran College, Ironside State School and Indooroopilly State High.
All of the initial set up has been done and everything is in place to maximise a very easy investment. Current tenancies are in lease agreements to provide immediate income with further expansion on the current return. The full financial figures relating to income and expenses is available for review and discussion.
The opportunities here are considerable.
1. You could simply buy as is and reap the rewards of an immediate solid income; or
2. You could actually live in one of the Duplexes and rent out the other; or
3. You could actually bring the home back to its original state and have a significant home in one of the best suburbs.
The choice is yours!
For our current Sellers the choice NOW is to start looking towards retirement. So, they are very keen to pass the opportunity on and all assistance will be given to achieve a sale at or prior to Auction. Connect with Scott now to discuss the opportunity in full details because there are simply to many details to accurately list all of them. We can then arrange your inspection and you can really value what is on offer.