The enquiry code for this property is 1415
You will be asked for the code when you call about this property.

Timber block of 4 flats, 2 x 2 bedroom upstairs and 2 x 3 bedroom downstairs. Two of the flats occupied by same tenants for over 5 years. 30kms north of Brisbane in quiet street in Deception Bay , 300m to the Bay water and foreshore walking tracks, close to schools, shops and the proposed new Moreton Bay rail line to Brisbane which is scheduled to open in 2016. Growing area, growing demand, growing rents. Close to North Lakes.

I have just received a Building Report on the property and it indicates immediate work is required to the stairs and front stumps which I am currently undertaking. The report is available by request by emailing me. If you chose to undertake this work you may get preference in the purchase of the property as I have had quite a few calls.

Sold previously as is, but back on the market as purchaser could not get finance. Valuation done in July 2013 valued at $550,000.
On two lots of land with two titles. The flats straddle both blocks. See attached floor plans.

Also needs some filling and painting on the outside but is internally structurally sound. Timber outside, timber and lining inside. New roof about 3 years ago,though building report shows flashing needs replacing so they obviously used cheap materials. Refurbished kitchens and bathrooms. Could do with painting internally in flat 1 and flat 3 though the same tenants have been there for years.

Current rent about to go from $890 per week to $910 per week.
6 month leases in place.

Please email me in preference to phone with a contact phone nr.

Room for improvement by providing under cover carports in large rear yard and private courtyards. Access via side drive.

Expenses:
Council Rates: Approx $4700 pa
Water rates: Approx $3080 pa
Building Insurance Approx $880 pa
Rental Management fee: 7.5% of rent
Lawn mowing Approx $40 per 2 months

No potential to subdivide unless flats are removed so best kept as cash cow. Potential to strata (stca).

Please contact seller only if genuine. Offer only above $550,000 will be entertained as this is a booming area.
Rent schedule will be attached shortly.

Once again the enquiry code for this property is 1415
Please be advised that you will need the code when calling about this property.