Yes:
1. Put the suburb in - preferrably the street address too. Or at least something like "only 3kms to the city centre". Toowoomba is a big place it could be out at Drayton or Harlaxton.
2. "Simply a great investment" - get rid of it. It has a 4.75% gross rental yield - which there is nothing "great" about. Its less than average really.
3. The one and only solitary "feature" is A/C. That's nothing to rave about. Can't you add some others?
4. Don't say the kitchen is "neat". This is RE speak for "we got the tenants to clean for 2 days before we took the pictures". It is the same as saying the kitchen is "serviceable". RE speak for it has hot & cold running water.
5. The advert has no "pull". There is no call to action. It sounds like an advert you'd write when it is late on a Friday afternoon after a long week and you just have to put "something" in the window.
If the REA can't do better copy than this, find another who can.
Gee, don't hold back. Tell us how you really feel
Either add more "features" or get rid of it altogether.
I agree with your other points.
It needs some copywriting skills applied to it.