SOLD
Sold on 13 Sep 2024 for $105,000

2/105 Farnell Street
Chermside QLD 4032

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 25m2
Land area: 25m2
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Property Details for 2/105 Farnell St, Chermside

2/105 Farnell St, Chermside is a 1 bedroom, 1 bathroom Unit with 1 parking spaces. The property has a land size of 25m2 and floor size of 25m2. While the property is not currently for sale or for rent, it was last sold in September 2024. There are other 1 bedroom Unit sold in Chermside in the last 12 months.

Building Type
Unit
Floor Size
25m2
Land Size
25m2
Local Government
Brisbane
Lot/Plan
2/BUP13465

Last Listing description (June 2018)

This is an excellent investment opportunity, located in the popular Chermside Court Motel, (3.5 star motel), situated in Chermside and with a Zero vacancy risk and guaranteed income in high capital growth area.

This room returns great rental return and may be suitable for a Self Managed Super Fund Investment Property.


Chermside Court is a modern, relaxing, semi self-contained 16 unit motel located in a quiet leafy residential area.

This room is the only downstairs disabled room within the Chermside Court motel complex and is highly sought after, with the only walk in shower. This room is utilised by a large number of guests requiring wheelchairs.

Walking distance to Prince Charles and Holy Spirit Hospitals, providing easy access for country clients requiring medical attention.

Body Corporate Fee's
Admin Fund: $200.00 per quarter
Sinking Fund: $440.00 per quarter
Total: $640.00 per quarter

* 12 year lease in place, returning $747.00 per month plus CPI increase yearly.
* The unit is not available for owner/occupiers.
* Electricity, water, gas and telephone are paid by the tenant.
* Pest control and carpet cleaning - twice yearly paid by the owner.
* As with all strata title units the owner is responsible for general maintenance repairs.

Sinking Fund (Bank) - $71,000
Council Rates: $374.60 per quarter

N.B. As lenders classify these units as serviced apartments, most lenders require 35% - 50% deposit for finance.

Features:
Ensuite bathroom
Standard kitchenette
Air-conditioning
Free wireless broadband
Barbecue area
Walking distance to Prince Charles
Walking distance to Westfield Chermside Shopping complex and bus interchange

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Property History for 2/105 Farnell St, Chermside, QLD 4032

A timeline of how this property has performed in the market
Last Sold
$105,000
13 Sep 2024
  • 13 Sep 2024
    Sold for $105,000
  • 31 Jan 2022
    Sold for $101,000
  • 23 Mar 2019
    Sold for $78,200
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About Chermside 4032

The size of Chermside is approximately 4 square kilometres. It has 10 parks covering nearly 23.6% of total area. The population of Chermside in 2011 was 8,170 people. By 2016 the population was 9,313 showing a population growth of 14.0% in the area during that time. The predominant age group in Chermside is 20-29 years. Households in Chermside are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Chermside work in a professional occupation. In 2011, 34.7% of the homes in Chermside were owner-occupied compared with 31.5% in 2016.

Chermside has 7,571 properties. Over the last 5 years, Houses in Chermside have seen a 67.02% increase in median value, while Units have seen a 69.21% increase. As at 31 October 2024:

  • The median value for Houses in Chermside is $977,450 while the median value for Units is $644,417.
  • Houses have a median rent of $590 while Units have a median rent of $580.
There are currently 69 properties listed for sale, and 37 properties listed for rent in Chermside on OnTheHouse. According to CoreLogic's data, 413 properties were sold in the past 12 months in Chermside.

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