MOTIVATED OWNER - OFFERS CLOSE 28 AUG 2023 5PM
Occupying an expansive 1559 sqm allotment with over 30m frontage and an excellent position backing onto Gympie South State School, this is a rare opportunity to secure 9 self-contained freehold units just 5 minutes from Gympie CBD.
Fully tenanted and generating solid returns of $136,500 per year, the 9 freehold units are spread over three blocks. With many of the units partially or fully renovated with new kitchens, bathrooms, bedroom storage, and tiles, this is an outstanding opportunity for buyers seeking an investment with work already done and the option to add future value, build extra units or redevelop the prime site (STCA).
In a spectacular location, tenants can walk to transport, Gympie South State School, Gympie Showgrounds, and Gympie Southside Town Centre, featuring Woolworths, cafes, eateries, shops and a pharmacy.
Presenting a unique opportunity, the neighbouring duplex at 26 Leonard Street is also for sale, granting you the chance to purchase one or both properties.
Property Features Include:
- Fully rented, many long-term tenants
- 1559 sqm | Over 30m frontage
- Great opportunity to "set and forget" or add value
- Great-sized, open-plan living with versatile kitchen's and bathroom's
Block 1
- Unit 1 2 bed, 1 bath, 1 car rented for $270p/w (original design) | Potential rental return of $320 per week
- Unit 2 - 2 bed, 1 bath, 1 car rented for $330p/w (renovated) | Potential rental return of $420 per week
Block 2
- Unit 3 1 bed, 1 bath, 1 car rented for $200 p/w (extended kitchen) | Potential rental return of $220 per week
- Unit 4 1 bed, 1 bath, 1 car rented for $280 p/w (renovated) | Potential rental return of $310 per week
- Unit 5 1 bed, 1 bath, 1 car rented for $280 p/w (renovated) | Potential rental return of $310 per week
Block 3
- Unit 6 2 bed, 1 bath, 1 car rented for $295 p/w (renovated) | Potential rental return of $310 per week
- Unit 7 2 bed, 1 bath, 1 car rented for $280 p/w (previously updated bathroom) | Potential rental return of $320 per week
- Unit 8 2 bed, 1 bath, 1 car rented for $360 p/w (renovated) | Potential rental return of $420 per week
- Unit 9 2 bed, 1 bath, 1 car rented for $330 p/w (new bathroom, tiles and painted) | Potential rental return of $400 per week
Land Use
Land Use 1: Multi-Unit Dwelling (Flats)
Land Use 2: EXCLUSIVE USE AS SINGLE DWELLING OR FARMING
Zoning: HOUSING
Location
- Backing onto Gympie South State School
- 500m to Gympie Southside Town Centre with Woolworths and cafes
- 1km to Gympie Showgrounds, farmers markets, and sports grounds
- 1.2km to Gunabul Homestead Golf Course
- 1.6km to Cooloola Christian College
- 5 mins to Gympie CBD and Gympie Hospital
For additional information, please enquire about the property compendium.
