SUBMIT OFFERS
15 East Street, Lutwyche QLD 4030
Apartment
755
OPPORTUNITY TO PURCHASE 5 UNIT BLOCK ON 779SQM OF DC2 ZONED LAND
Two storey brick unit block located in close proximity to Lutwyche Road and the newly renovated Lutwyche Shopping Centre approximately 6.5kms from Brisbane CBD. Lutwyche is going through significant gentrification with all the new infrastructure and proximity to the city..
The complex has been well maintained with secure long term tenants achieving the following in rent:
Ground Floor
Unit 1 - 1 bed, 1 bath and carport rented at $360 per week size 63sqm
Unit 2 - 1 bed, 1 bath and carport rented at $360 per week size 61sqm
Unit 3 - 1 bed, 1 bath and carport rented at $360 per week size 65sqm
First Floor
Unit 4 - 2 bed, 1 bath and carport rented at $450 per week size 92sqm
Unit 5 - 2 bed, 1 bath and carport rented at $450 per week size 93sqm
Total income per year is $102,960 less outgoings
The complex does not have a body corporate so the only outgoings are the rates ($480 per quarter per unit) and water rates ($237 per quarter per unit plus water usage) for the units.
The unit block is located at the front of the block with a rear five carport plus laundry facility - access to the carport via adjacent laneway. Opportunity to land bank the site for future development - subject to BCC approval to 5 stories or build further units or townhouses on the land available at the rear of the property where the carport is currently located.
Short stroll to Lutwyche Shopping Centre, gyms and fitness centres.
Approx 6.5kms to Brisbane City and easy access to bus services into the City.
Features include: Built-In Wardrobes,Close to Transport,Close to Shops,Close to Schools,Car Parking - Surface,Courtyard,Fully Fenced
The complex has been well maintained with secure long term tenants achieving the following in rent:
Ground Floor
Unit 1 - 1 bed, 1 bath and carport rented at $360 per week size 63sqm
Unit 2 - 1 bed, 1 bath and carport rented at $360 per week size 61sqm
Unit 3 - 1 bed, 1 bath and carport rented at $360 per week size 65sqm
First Floor
Unit 4 - 2 bed, 1 bath and carport rented at $450 per week size 92sqm
Unit 5 - 2 bed, 1 bath and carport rented at $450 per week size 93sqm
Total income per year is $102,960 less outgoings
The complex does not have a body corporate so the only outgoings are the rates ($480 per quarter per unit) and water rates ($237 per quarter per unit plus water usage) for the units.
The unit block is located at the front of the block with a rear five carport plus laundry facility - access to the carport via adjacent laneway. Opportunity to land bank the site for future development - subject to BCC approval to 5 stories or build further units or townhouses on the land available at the rear of the property where the carport is currently located.
Short stroll to Lutwyche Shopping Centre, gyms and fitness centres.
Approx 6.5kms to Brisbane City and easy access to bus services into the City.
Features include: Built-In Wardrobes,Close to Transport,Close to Shops,Close to Schools,Car Parking - Surface,Courtyard,Fully Fenced
Inspections
No open inspections scheduled.
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Contact Sarah Banachak to learn more about this property, request an inspection or take an online tour.
Key details
Bedrooms:
7
Bathrooms:
5
Garage Spaces:
5
Property type:
Apartment
Other Details
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SummaryMedian sales
Average Age
33 years
Population
4,610
Listing ID: 182346605. This listing has been viewed 1 time. It was first displayed on 04/03/2024 and last updated on 15/04/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.