Discover a lucrative investment opportunity in the heart of Wynnum, just a stone's throw from the picturesque waterfront. This sturdy brick complex features 4 units, with 3 currently tenanted, providing immediate rental income and a solid foundation for future growth. The units, while functional, are ready for renovation or redevelopment, offering investors a prime chance to modernize and enhance in a highly desirable coastal location.
Situated on a 1,012sqm block, with its potential for significant appreciation and the ability to generate cash flow from the start, this investment promises substantial returns.
Offering every lifestyle convenience on your doorstep, with local shops, schools, public transport and the Wynnum esplanade, all within walking distance from the property. Whether you're looking to refresh the existing units or explore redevelopment options, this property presents the perfect opportunity to add to your portfolio.
Approximate Annual Outgoings (Council Rates, Water & Sewerage & Strata Insurance): $12,433.67 approx.
Annual Income Appraisal: $115,000 approx.
Unit 1: $370 per week until 15/01/2025
Rental Appraisal: $500 -$550 per week
Unit 2: $450 per week until 15/11/2024
Rental Appraisal: $600 - $650 per week
Unit 3: $465 per week until 10/01/2025
Rental Appraisal: $500 - $550 per week
Unit 4: Requires Renovation
Rental Appraisal: $525 - $575 per week (with basic renovation)
Features include but are not limited to:
• 1,012sqm block
• LMR Zoning
• Four units - three currently tenanted (leases ending January 2025)
• Three 2-bedroom units & One 3-bedroom unit
• Moments from the shoreline & central Wynnum shops precinct
• Wynnum State High School Catchment (919m from the property)
• Manly State School Catchment (1.4km from the property)
• Guardian Angels Primary School (190m from the property)
• Iona College (4km from the property)
• Wynnum Central Train Station (400m from the property)
• Wynnum Esplanade (550m from the property)
• Wynnum Golf Club (1.4km from the property)
• Brisbane CBD (18km from the property)
• Brisbane Airport (20km from the property)
We look forward to seeing you at our next open home and please feel free to call Xander anytime on 0438 689 723 with any questions.
Disclaimer:
We have in preparing this advertisement used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this advertisement.
