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What an opportunity for an investor to purchase a block of 5 units in Surfers Paradise with city and river views!
The units are as follows;
1 x 3 bedroom / 1 bathroom unit
2 x 2 bedroom / 1 bathroom unit
2 x 1 bedroom / 1 bathroom unit
Unit 1 - Is a two bedroom and the kitchen flows into the living area. It is tiled throughout and has ceiling fans. The main window has views of Surfers Paradise and the river.
Unit 2 - Three bedroom unit has timber floors and ceiling fans throughout.. The large balcony offers beautiful views of Surfer Paradise and the river. The living area opens up onto the balcony and dining room. Plenty of storage and all rooms have a double wardrobe. The toilet is separate to the bathroom.
Unit 3 - A one bedroom, with a bathroom, ceiling fans and carpet throughout.
Unit 4 - A one bedroom with a double wardrobe, bathroom, ceiling fans and carpet throughout.
Unit 5 - A two bedroom, has ceiling fans and is tiled throughout. The main bedroom has a double wardrobe and a big window with views of the pool.
They are currently providing a net return of approximately $51,544.80 per annum and the land size is 506m2.
- Redevelopment potential (maximum building height is 15 storeys & RD7 which is 1 bedroom/25m2)
- Current Gross Income $83,200.00 (Rental Appraisal $88,400.00 - $97,240.00)
- Current Net Return $51,544.80
The building is brick with a swimming pool, spa and BBQ area. There is a double carport with room for additional car spaces. There is a shared laundry out the back with a clothes line.
You can build 20 bedrooms (1 bed/25m2) on the site and building height is unlimited.
A great location! Only a short walk to the beach, shops and heart of Surfers Paradise.
Owner is eager for offers!
Disclaimer:
In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.
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