FOR SALE
$950,000

1a Newell Avenue
Mareeba QLD 4880

Bedrooms: 8
Bathrooms: 4
Car spaces: 8
Land area: 1012m2
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UNIT INVESTMENT - IMMEDIATE INCOME EARNER

This solid, concrete block unit complex is on the market for the first time in many decade.
Situated on a 1012m2 allotment in a quiet cul-de-sac towards the northern end of town, Units 1 & 2 were built in the 1970’s, with Units 3 & 4 being added in the 1980’s.
This complex of 4 units is currently returning an income of over $1,030 per week; presenting a terrific opportunity for investors to snap up now.
• 8 Beds
• 4 Baths
• 4 Car Accommodation (single carports)
• Off-street parking available
Constructed from solid masonry block inside and out and with iron roofing; each unit features 2 bedrooms and 1 bathroom, combined living & dining space, kitchen, internal laundry + single carport.
Units 1 & 2 have some air-conditioning and security screening on doors and windows, while Units 3 & 4 have standard screen netting.
The current owners have enjoyed a relatively low vacancy rate over many years. With this investment, income is spread across 4 separate rentals, so when 1 tenant decides to relocate, you still have the benefit of receiving income from the other 3 units.
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Property Details for 1a Newell Ave, Mareeba

1a Newell Ave, Mareeba is a 8 bedroom, 4 bathroom BlockOfUnits with 8 parking spaces. The property has a land size of 1012m2. The place is currently for sale with Mareeba Property Office.

Building Type
BlockOfUnits
Land Size
1012m2

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About Mareeba 4880

The size of Mareeba is approximately 480.2 square kilometres. It has 30 parks covering nearly 48.1% of total area. The population of Mareeba in 2011 was 10,181 people. By 2016 the population was 11,091 showing a population growth of 8.9% in the area during that time. The predominant age group in Mareeba is 0-9 years. Households in Mareeba are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Mareeba work in a labourer occupation. In 2011, 62.2% of the homes in Mareeba were owner-occupied compared with 63.4% in 2016.

Mareeba has 6,114 properties. Over the last 5 years, Houses in Mareeba have seen a 61.26% increase in median value, while Units have seen a -1.83% decrease. As at 31 October 2024:

  • The median value for Houses in Mareeba is $453,367 while the median value for Units is $294,033.
  • Houses have a median rent of $480 while Units have a median rent of $350.
There are currently 127 properties listed for sale, and 8 properties listed for rent in Mareeba on OnTheHouse. According to CoreLogic's data, 254 properties were sold in the past 12 months in Mareeba.

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