Hi all,
The in-laws have just purchased another IP to be future PPOR on the Gold Coast and want to get a little cash behind them. Therefore, they are selling one of their IP's in Brisbane.
SELLING PRICE is $255k
The unit is situated at Eight Mile Plains in Brisbane. It is a 2 minute drive to the South East Freeway and around 10-15 minutes from the city and around 45-60 mins to the Gold Coast. It is in a complex of 12 units and all are 2 storey and very well laid out and presented. All are in a line next to each other. It is close to major shopping centres, public transport and Griffith University. The unit is in excellent condition with garage and space for 1 more car in the driveway. The front and rear have large spacious outdoor living areas. It is a 2 storey unit with 3 bedrooms and ensuite. The property is currently tennanted at $225/wk til Nov 04 by a lady and her daughters who are studying at the University. They would be keen to secure a 5 year term at the end of this one, with the opportunity to increase rent every 12 months. Not exact on the measurements here but these were some figures from memory. Land size 300sq, unit size 15sqm. The Body Corp fees are $421/qtr and rates are $330/qtr. I think the building is around 10-15 years old.
Growth Stats:
Median Weekly Rent: South - Inner Dec 01 - $210, Dec 02-$215, Dec 03 - $235. I forgot to bring my REIQ stats on Cap growth but can post them tomorrow!!
If you are keen to know more or interested in the property, please PM or reply for more info.
Dos
The in-laws have just purchased another IP to be future PPOR on the Gold Coast and want to get a little cash behind them. Therefore, they are selling one of their IP's in Brisbane.
SELLING PRICE is $255k
The unit is situated at Eight Mile Plains in Brisbane. It is a 2 minute drive to the South East Freeway and around 10-15 minutes from the city and around 45-60 mins to the Gold Coast. It is in a complex of 12 units and all are 2 storey and very well laid out and presented. All are in a line next to each other. It is close to major shopping centres, public transport and Griffith University. The unit is in excellent condition with garage and space for 1 more car in the driveway. The front and rear have large spacious outdoor living areas. It is a 2 storey unit with 3 bedrooms and ensuite. The property is currently tennanted at $225/wk til Nov 04 by a lady and her daughters who are studying at the University. They would be keen to secure a 5 year term at the end of this one, with the opportunity to increase rent every 12 months. Not exact on the measurements here but these were some figures from memory. Land size 300sq, unit size 15sqm. The Body Corp fees are $421/qtr and rates are $330/qtr. I think the building is around 10-15 years old.
Growth Stats:
Median Weekly Rent: South - Inner Dec 01 - $210, Dec 02-$215, Dec 03 - $235. I forgot to bring my REIQ stats on Cap growth but can post them tomorrow!!
If you are keen to know more or interested in the property, please PM or reply for more info.
Dos
