7 Tower Street
eastern heights QLD 4305

BLUE CHIP INVESTMENT

8 4 4

•SET OF 4 STRATA TITLED UNITS

•8 BEDROOMS & 4 BATHROOMS

•819Mm2 FLOOD FREE BLOCK

•EACH UNIT HAS OWN GARAGE

•RETURNING $50,180 P/A

•PROVEN 6.69% GROSS RETURN

•WALK TO SCHOOLS & PARKS

•3 MINTUES FROM CBD

This is a rare opportunity to secure a set of 4 strata tilted units in a prime Eastern Heights position, units such as these are tightly held and seldom come up for sale.

This set of units has only changed ownership 3 times since it was built in 1970 which proves what an awesome investment they have been.

The floor plan showcases 4 units (each with individual title and water meters) each unit has:

2 bedrooms (one bedroom in each unit is massive with room for an ensuite)

1 bathroom

Air-conditioning

An allocated garage

An outdoor balcony or deck

Unit 1 rents for $240 p/wk

Unit 2 rents for $250 p/wk

Unit 3 rents for $235 p/wk

Unit 4 rents for $240 p/wk

Recent works completed include: Unit 2 has been re-painted, new carpet recently installed and has new curtains, Unit 3 has recently had the hardwood floors polished and all units have modern air-conditioning systems. Unit 1 has a large recently renovated deck and has been newly painted and Unit 4 has also had a recently renovated deck.

External works completed include: all plumbing beneath the backyard was only replaced 3 years ago. New gutters were installed 4 years ago.

Outgoings you are responsible for:

Ipswich City Council Rates $463 per unit/quarter

Building Insurance per year $1760

Water usage is passed onto each tenant (you pay for the water connection fee)

Mowing of external common areas

The building itself is a brick veneer construction with a hardwood frame and hardwood floors and has yearly inspections for termites, a termite barrier was installed some years ago.

Under the dwelling is a common storage area and a 4-car garage plus the entire sub floor is accessible for inspections and maintenance.

As quoted, this property has a current gross yield for 6.65 % but with future renovations you could see this yield increased to a 7% or 8% yield as rents are increased.

All savvy investors are encouraged to book an inspection by contacting the listing agent Glenn Ball at First National Action Realty Ipswich but please keep in mind we have tenants in place so we must give adequate notice to inspect.

DISCLAIMER: First National Action Realty has taken all reasonable steps to ensure that the information contained in this advertisement is true and correct but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. All distances, measurements and timeframes contained within this advertisement are approximate only. Prospective purchasers should make their own enquiries to verify the information contained in this advertisement.

Property Details

Property Type - BlockOfUnits

Land Area - 819m2

Open Times

Contact Agent to arrange inspection

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Contact Details

Get in touch with our team at First National Real Estate Action Realty Ipswich

Lisa Jensen

Sales Associate to Glenn Ball

0499 081 445

Please complete the enquiry form below and we will be in touch shortly

Select the open and fill in your details below, then simply show your ID to Glenn at the door

COVID-19 PRECAUTIONS




In response to Federal, State and Territory Government Department of Health recommendations related to Coronavirus, First National Real Estate is strictly observing all essential health precautions nationally. Open homes have therefore been cancelled where required, as have traditional auctions, and we are offering private or digital inspection appointments and online auction arrangements as alternatives – where permitted.

In all locations where normal real estate operations continue:

  • We’re avoiding direct contact, such as shaking hands
  • Observing social distancing requirements
  • Maintaining contact records
  • Deferring non-essential property inspections or conducting them remotely
  • Working with customers responsively on specific arrangements, where necessary

These temporary changes are intended to underpin the essential functions of the property market as well as to reassure customers that all necessary precautions are being observed.

While the presence of Coronavirus requires us to observe all sensible precautions, the business of real estate continues and it’s essential that we support customers who are selling their homes as well as the needs of our tenants and landlords.

In all other respects, we’re getting on with the job of selling, renting and managing property at First National Real Estate, and optimistically working with our community as Australia responds to the effects of Coronavirus.