This property is a house on a lot in 1/RP85791 Ashgrove QLD. It has an estimated value of $850,000. In the council area Brisbane - Ithaca, featuring 0 bedrooms and 0 bathrooms.
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 could be Land bank and hold with approx. $59,020 per year current annual income. Update the unit interiors to increase rental return by approx. $50 per week each Raise the floor level to add car parking under the building and if combined with interior renovations could add around $100 per week of income, subject to council approval. Accommodation - 5 X 1 Bedroom units on single title. Land Size 630sqm Land Valuation as at 30 June 2019 - $570,000 Income - Unit 1/15 Quandong Leased till 20/11/20 @ $225pw Unit 2/15 Quandong Leased till 08/1/21 @ $240pw Unit 3/15 Quandong Leased till 09/03/20 @ $230pw Unit 4/15 Quandong On periodic lease @ $200pw Unit 5/15 Quandong Leased till 23/10/20 @ $240pw 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 Insurance currently with RACQ Bank - $2,200 per year (with excess set at $2500). Property Management Expenses approx. 6% per year or $3,572 Net Income = $44,228 Properties are separately metered for gas, electricity and NBN. Boundary areas shown are approx. Internal Pictures and virtual tour are of unit 3.