An ideal opportunity presents itself for land banking whilst taking advantage of the current rental income from 5 flats. Located in the ever popular and constantly developing suburb of Chermside. Set in a convenient street this block has lot of potential on offer.
The block is zoned MU2 Centre Frame – allowing for a mix of business / retail + residential and a maximum building height of 6 storeys (Building heights subject to neighbourhood plans)
This unit block is in a prime location:
· 450m to major Westfield Chermside shopping precinct + Transport Hub
· 1.4km to The Prince Charles Hospital + Holy Spirit Private Hospital
· 13km to Brisbane City
· 11km to Brisbane Airport
· Wavell Heights State School + Craigslea State High School Catchment
All flats are in reasonable condition and have current fixed term leases in place ranging from 12 – 24 months.
• Current rental return is $1200 per week
• Brisbane City Council rates $1770.62 per quarter
• Block size is 810m2, on two lots and zoned Mu2 Mixed Use.
• Block dimensions 21m x 38.9m
• Unit block is not currently strata titled.
The street is currently being developed, don’t miss your opportunity to make the maximum potential or simply sit on this nest egg. These flats would make the perfect addition to any property portfolio or to hold and generate cash flow while getting Developement approval.
5 flats consisting of:
• 3 x 2 Bedroom, 1 bath + 1 car garage ( 45sq meters approx )
• 2 x 1 Bedroom, 1 bath + 1 car garage ( 35 sq meters approx )
If this property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.