35 Cressbrook StreetForest Lake QLD 4078
Property Details for 35 Cressbrook St, Forest Lake
35 Cressbrook St, Forest Lake is a 5 bedroom, 5 bathroom BlockOfUnits with 2 parking spaces. While the property is not currently for sale or for rent, it was last sold in August 2024. There are other 5 bedroom BlockOfUnits sold in Forest Lake in the last 12 months.
Last Listing description (August 2024)
Full Information Memorandum Available Upon Request.
Fully Leased offering a $97,767pa Gross Yield on 679m2 in a strong future suburb undersupplied with quality rental unit stock.
Seize the opportunity with this standout Rooming House in Forest Lake – a burgeoning locale marked by its limited supply of premium rental stock and strong growth trajectory. This meticulously renovated property, once a standard residence, now stands as a multi-occupancy dwelling, offering investors a lucrative entry into a market poised for expansion.
Located on a generous 679m2 block, it's currently realizing a gross yield of $97,767pa, presenting an unbeatable investment with both solid returns and capital appreciation potential. Factoring in indicative operating costs provides an indicative Net return of $71,690pa.
Amidst a suburb experiencing a substantial 11.2% sale price growth, this Rooming House is a gateway to tapping into the high demand for quality rentals.
The strategic positioning of Forest Lake, combined with the area's accelerating development and increasing appeal, suggests a bright future for investors. With the city's growth, propelled by population increases and significant infrastructure projects, rental demand is expected to strengthen further.
This Rooming House represents not just an investment in real estate but a stake in the suburb's prosperous future, ideally suited for the discerning investor ready to capitalize on the lucrative rental market of Forest Lake.
Property History for 35 Cressbrook St, Forest Lake, QLD 4078
- 05 Aug 2024Sold
- 05 Jun 2024Listed for Rent $390 / week
- 22 Apr 2024Listed for Sale Not Disclosed
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0About Forest Lake 4078
The size of Forest Lake is approximately 9.9 square kilometres. It has 36 parks covering nearly 15.4% of total area. The population of Forest Lake in 2011 was 22,426 people. By 2016 the population was 22,896 showing a population growth of 2.1% in the area during that time. The predominant age group in Forest Lake is 40-49 years. Households in Forest Lake are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Forest Lake work in a professional occupation. In 2011, 65.5% of the homes in Forest Lake were owner-occupied compared with 68.4% in 2016.
Forest Lake has 8,479 properties. Over the last 5 years, Houses in Forest Lake have seen a 95.11% increase in median value, while Units have seen a 83.87% increase. As at 31 July 2024:
- The median value for Houses in Forest Lake is $883,145 while the median value for Units is $522,935.
- Houses have a median rent of $600 while Units have a median rent of $450.
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