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UNDER CONTRACT Brisbane's Best Buy Entire Block of Units

Fully leased gross yearly income $85280, Projected income on lease renewals $98,800. Site zoned CR1 (9.5m height limit) with 21.6m Enoggera Creek frontage and opposite a park. 5 unit complex comprising of 3 x 2 bed, 1 bath, 1 car + storage, + 2 x 1 bed, 1 bath, 1 car + storage. This apartment complex presents a superb opportunity in a sought-after precinct just 4.6km to the CBD. Ideal for investors or your SMSF, this high-income-producing asset boasts no Body Corporate and a prime leafy position with buses, cafes, and restaurants within walking distance.

The solid building features quality brick construction with dual staircase access to every unit. Each apartment includes a combined living/dining area with a kitchen, 1 or 2 bedrooms with built-in robes, a central bathroom and undercover tandem parking for 1-2 cars or 1 car + storage. Majority airconditioned. Additionally the building has two storage rooms.

With all 5 units consistently rented, you can start seeing immediate returns on your investment. Most tenants are long-term, 5+ years. For buyers wishing to capitalise further, there is potential to renovate the complex and generate higher rental income or redevelop the site (STCA).

Located in the highly sought-after suburb of Red Hill, the unit block is close to schools, Kelvin Grove State College, QUT Kelvin Grove and the Royal Brisbane Hospital, Suncorp stadium, shopping centers, parks, markets, cafés, entertainment and many dining options. Offering everything you need within reach. Additionally, the property's prime location ensures effortless commuting, with major highways and public transportation just moments away. It is also just a short drive to Paddington's famous shopping precinct and only 4.6km from the Brisbane CBD.

 

With the Brisbane Olympics just 7.5 years away in 2032, invest now in this block of units in a prime location, so close to the CBD and enjoy the returns and future capital appreciation. Please contact Dru on  0414 319 022 for more information.

8 5 5 933 m2
Address 30 Praed Street, Red Hill
Price SOLD for $1,590,000
Property Type Residential
Property ID 10726
Category Block Of Units
Land Area 933 m2

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Dru Candappa

0414 319 022
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Emma was amazing! Great communication and knowledge. It was our first time selling a property so her support and guidance made it a very easy process. Highly recommend!

Emma was a please to deal with, always responsive and happy to help

Emma was fantastic to work with as she had great communication, was friendly and offered useful advice making the process easier and enjoyable.

After choosing Emma as the agent to sell our property, she was fantastic to work with and it was clear she had excellent market knowledge and experience. She was genuinely interested in our situation and her communication was clear and to the point. I didn’t at any point feel pressured and this hugely contributed to making, what can be a very stressful process, that much easier

This is our second time working with Emma and again we had such a great experience. Emma helped us understand the processes, provided guidance and was always available to answer any questions along the way. We are so grateful for her hard work and dedication to us during this process and would highly recommend her to anyone.

Emma was amazing. She is a very knowledgeable, hardworking and professional real estate agent, who will do everything she can to facilitate the seamless sale of your home, without compromising price or time. Emma was always sure to answer all of our questions and went out of her way to accomodate our needs and busy schedules. We are very grateful for her expertise and hard work.