36 Cornelius StreetClontarf QLD 4019
Property Details for 36 Cornelius St, Clontarf
36 Cornelius St, Clontarf is a 16 bedroom, 8 bathroom Unit with 8 parking spaces. The property has a land size of 1466m2. While the property is not currently for sale or for rent, it was last sold in January 2003.
Last Listing description (November 2023)
This enormous block provides holding income in a location underpinned by strong buyer and tenant demand, low supply levels and outstanding local amenity including the stunning foreshore and several local schools.
QUICK RUNDOWN . . .
+ The current median price for 2 bed apartments in Redcliffe is $460,000, and the increase in rent from Aug 2019 to now is 28%
+ Clontarf is a popular bayside location, only 30mins (approx) from the Brisbane CBD along the M1
+ 37 metre frontage -- 8 self contained units, 2 bed, 1 bath, 1 car
+ Current gross income of $125,320, which is a 5% return (based on all units being rented 52 weeks per year)
+ Due to pre-existing use on the lot, there's potential for townhome development, after local council approval
+ There's a 1,218m2 block next door with a hall, which is leased until 2026 - Hint: buy this one too ;)
+ A short stroll to 4 local schools
+ Clontarf to Hamilton exclusively highway
+ Minutes to popular Sutton's Beach
+ Outgoings approx $25,000 per year
THE APARTMENTS . . .
+ UNIT 8: Is the renovated unit in the images, currently rented for $330
+ UNIT 6: Has new carpet in the bedrooms, $300pw
+ UNIT 2: Has new flooring and paint throughout, $300pw
+ UNIT 7: Has a kitchen renovation, $300pw
+ UNITS 5, 4, 3 and 1 are all original as in the pics supplied, all $300 pw except unit 4 which is $280pw
Two of the units have new hot-water systems, and the termite treatment is up to date.
Property History for 36 Cornelius St, Clontarf, QLD 4019
- 01 Aug 2023Listed for Sale Offers over $2,500,000
- 06 Dec 2022Listed for Sale Inviting All Offers!
- 19 Oct 2021Listed for Sale Inviting All Offers!
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