Super charge your investment portfolio with this terrific low set free standing complex of (5) x (1) bedroom villa style units all on one title.
At this price it equates to just $180k per unit.
Each unit is separately metered for power, has tidy kitchens, separate bathrooms, laundry, single carport & expansive paved courtyard areas at the rear.
The construction is brick & tile with bitumen driveway and is in very good overall condition. However there is still some scope to increase rents with cosmetic refurbishment.
DETAILS :
- Land size is 1420m2
- Unimproved land value for rating purposes $560k ( leaves each unit at just $68k )
- Total gross rental is $61,360 per annum
- Council rates $2060.72 1/2 yearly
- Water rates $1268.53 1/2 yearly
- Insurance $2000 pa approx.
Anticipated Nett Income $52,700 per annum or in real terms 5.85% return – so positively geared with current rates is assured.
LOCATION :
Stewart Pde ( which is a quiet cul-de-sac ) is conveniently positioned running off the main arterial being Southport Nerang Rd.
Minutes to :
- Trinity Lutheran College
- Ashmore City Shopping Centre
- Easy access onto M1 to Brisbane & Gold Coast regions
And close by to :
- Metricon Stadium
- Southport & Surfers Paradise
- Railway station
AGENTS COMMENTS :
If you are looking for a LOW RISK HIGH RETURN investment property then this is it !
Seller was seeking interest well above $1.1m so at the new ‘ highly motivated ‘ price this property is great buying & equates to just $180k per unit.
Ideal for family syndicate & super funds too !
( Internal photos coming…. )