Block of Units for Auction
Multi Unit Residential with Returns
Property ID 1985327Multi Unit Residential with Returns - Net income $42,282 pa
This income and lifestyle opportunity located on the Pumicestone Passage inside Bribie Island is one of the prettiest and most relaxing townships located between Brisbane and the Sunshine Coast. The property has a house and 4 x 1 bedroom flats on the site providing a lifestyle and investment opportunity.
Located opposite the Passage and waterways between Bribie Island, the property holds a commanding position at the heart of the entrance to the Township of Toorbul. Offering panoramic views, take a step back in time and own your own retro beach house which also includes 4 individually let flats.
The current zoning is General residential under the new Town Plan, however has been previously zoned Local Centre. Future developments will require an Impact Assessable DA.
Property features include:
- 5 Bedroom highset home, 3 bathroom, fully functional utility rooms below
- MEGA secure storage area below the home
- A block of 4 x 1 bedroom flats
- All have long term tenants
- Shared laundry
- 1,005m2 corner position
- Direct access to the Pumicetone Passage and Moreton Bay
- Located in the heart of Toorbul
- Extremely solid investment, returning $1,010 per week
- All currently tenanted + potential for rental increase
- The complex also offers a unique setup for an income producing home! As the property is in original condition, you may choose to renovate and live and work from the house and receive income from the flour flats which currently rent at $760 per week.
- Very genuine Sale, unfortunately ill health & circumstances have brought this investment to the Market.
- Information Memorandum available on request
Flat 1 - returning $190 p/w - lease ends 28/06/2019
Flat 2 - returning $190 p/w - lease ends 28/06/2019
Flat 3 - returning $190 p/w - lease ends 28/06/2019
Flat 4 - returning $190 p/w - lease ends 28/06/2019
House - returning $250 p/w - lease ends 28/06/2019
Total: $1,010 p/w
COUNCIL RATES: Approx $3,875.12 per year
INSURANCE: Approx $3,330 per year
MANAGEMENT FEE'S: $4,332.90 per year (managed by Toorbul & District Realty) Toorbul
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.