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Expression of Interest - Now Closing 3rd of November 2024
A unique development opportunity within the Greenslopes area offering a substantial holding income at around $150,020 p/a with potential for uplift. Ideal for any investor seeking out a diverse investment as an exceptional edition to the property portfolio.
Two lots on one title with 810m2 of land and a 20m street frontage. Zoned Low medium density residential allow a mix of options for redevelopment. Currently comprising of 9x leased flats all with long term tenants and historically low vacancy rates, individually metered for electricity and NBN.
There is also an additional flat (total x10) which the owners use as a storage room, only further enhancing the overall yield potential this site has to offer.
? Double block, Zoned LMR
? 810m2 block with 20m street frontage and two lots on one title
? 10x 1bed & 2bed flats (9x currently leased and 1x as storage)
? Annual return of around $150,020 p/a or $2,885 per week. (Approx)
? Located in trendy, high-growth suburb with booming rental market
? Close to Greenslopes Busway, parks, public and private hospitals, plus Stones Corner and Annerley Shopping Precincts.
Just 5km from the CBD or only a few minutes' walk to the Greenslopes Bus way with both in bound and out bound access. Plenty of local amenity options including the Greenslopes Mall, Hospitals, parks, bike ways, Schools, and stones corner precincts, while also offering quick and easy access to the South-East Freeway.
Unit 1 - 2bed 1bath - Rent $340 p/w - Lease April 2025
Unit 2 - 1bed 1bath - Rent $325 p/w - Lease Feb 2025
Unit 3 - 2bed 2bath - Rent $340 p/w - Lease April 2025
Unit 4 - 1bed 1bath - Rent $320 p/w - Lease March 2025
Unit 5 - 1bed 1bath - Rent $315 p/w - Lease August 2025
Unit 6 - 1bed 1bath - Rent $310 p/w - Lease March 2025
Unit 7 - 1bed 1bath - Rent $325 p/w - Lease Feb 2025
Unit 8 - 1bed 1bath - Rent $285 p/w - Lease Feb 2025
Unit 9 - 1bed 1bath - Rent $325 p/w - Lease March 2025
TOTAL - $2,885 per week.
? Rates $2,225 -P/Q
? Utilities $2,300 - P/Q
For more information or to book an inspection of the property please call Steve Landeta
Disclaimer: While preparing this information we have used our best endeavors to ensure that the following information contained therein is true and accurate but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers should make their own inquiries to verify the information contained herein.