Invest, Hold, Renovate Or Redevelop – 1234m2 LMR2 Zoned Allotment With 4 Income Producing Flats
Central to all that makes Paddington one of Brisbane’s finest and most in demand suburbs, this fully tenanted, simple post-war construction comprising of 4 x 2 bedroom, 1 bathroom plus 1 car space single level flats presents a rare opportunity to secure a large LMR landholding that holds huge potential. Investors, townhouse developers and desiring inner-city dwellers with a keen eye on capital growth will appreciate the continuing income stream while they explore the possibilities (STCA.)
Currently realising impressive annual returns in the vicinity of $54,080 (that’s approximately $260 per week, per flat,) maintain the ongoing investment and landbank for the future, consider renovations and additions or consult an architect or your design team and start planning your dream build.
The land size, being over ¼ of an acre and having the most ideal northern aspect to the rear across the widest part of the block, lends itself to great Queensland design. There is plenty of room for a pool, to hold backyard cricket matches and to enjoy outdoor entertaining under the trees or under the stars.
Each flat contains a combined lounge, dining and kitchen space, good sized bedrooms and balcony, with under building parking, storage and shared laundry facilities.
Situated at the end of a cul-de-sac and surrounded by traditional cottages and more contemporary architecture, with a walkway leading to Upper Cairns Terrace and Moreton Street, this family friendly location is only 50m from Petrie Terrace State School and is in the secondary catchment for Kelvin Grove State College.
Within a few hundred metres of the Neale Macrossan Playground, skate park, Paddington Dog Park, sports court and Ithaca Swimming Pool, there are fantastic recreation options for all.
Less than a 10 minute walk will have you at Suncorp Stadium. Commencing at Darling & Co. this is just the start of a host of cafés, hotels and fine dining restaurants along the Given
Terrace and Caxton Street strips that will have you sampling something new each time you visit. With a quick bus commute into the city or across the river to Southbank for a mid-week show, Paddington is the place to be.
Additional site details and tenancy information relating to each individual flat is available upon request.
Contact me today to arrange an inspection.