10 Primrose Street, Bowen Hills QLD 4006

Presenting a purpose-built structure featuring 32 self-contained studio units spanning three floors, nestled in a cul-de-sac just off St. Pauls Terrace in Bowen Hills. Constructed less than two decades ago, this property has received meticulous care and remains in impeccable condition.

Sitting on a 427m² plot, the land holds a single title, resulting in minimal land tax responsibilities tailored to your circumstances. The studio units boast an average size of 17m² each, complemented by a communal space of approximately 40m², a coin-operated laundry facility and secure parking for up to three vehicles. Historically devoted to long-term rentals, this property also offers potential for short-term accommodations.

There is no body corporate, so no fees and the associated overheads of running it. Though the studio units can be strata titled if required.

The studio units are able to be leased at an average of $300 per week, inclusive of power (within reasonable usage) and basic internet services. Notably, the occupancy rate is consistently high, contributing to low turnover.

Each studio unit is thoughtfully outfitted with:
Well-equipped kitchen area featuring a fridge, hot plate, rangehood, microwave, sink and cupboards
Sleeping arrangements include single, king single, or double beds, along with bedside table/desk and wardrobe
Bathroom zone complete with shower, sink, and toilet
Comfort is ensured by air-conditioning and a ceiling fan

The communal area offers a fully-furnished kitchenette/dining/living space, complete with television, exercise bike, air-conditioning and a shaded outdoor spot furnished with tables and chairs.

Noteworthy enhancements and maintenance of superior quality encompass:
Comprehensive repainting of the building
Implementation of security cameras in common zones
Upgraded showers in all units
Modernized hot water systems
Renewal of hot plates, range hoods, air-conditioning units, keylocks
Upgraded front door intercom system
Fire alarm system upgrade with new fire indicator panel and installation of Hochiki analogue smoke detectors throughout
Individually metered electricity for each studio unit, aligning with the fair-use policy

Supervising the property since its inception, a dedicated caretaker collaborates closely with the owners to ensure the property maintains its optimal state.

Embrace this remarkable investment opportunity, guaranteeing a stable and foreseeable return minus the customary overheads (and effort) often associated with property investment. For enquiries or to schedule a private viewing, reach out to Paul Manning on 0417 383 950

Features include: Secure Parking