Morris TerraceGin Gin QLD 4671
Property Details for 1-3/29 Morris Tce, Gin Gin
1-3/29 Morris Tce, Gin Gin is a 6 bedroom, 3 bathroom Unit with 3 parking spaces. The property has a land size of 2477m2.
Last Listing description (August 2024)
Investors wanting to add Unit blocks into your portfolio, this is an opportunity you don't want to miss!
3 x 2 bedroom, 1 bathroom units all with their decent size yard and a nice outlook, set on a 1,524m2 lot, walking distance to Gin Gin town centre and with little to no properties generally available for rent makes this investment a great one to start or add to the portfolio.
Designed to have very little maintenance; concrete block filled, internal brick party walls, a simple open layout with high ceilings and a current gross return of 6.5% over with room to grow make these a smart addition to any savvy investor portfolio. Also, the current owner had plans to add an extra 2 units to increase return and value.
The rental breakdown per unit is as follows:
? Unit 1: $265 per week
? Unit 2: $270 per week
? Unit 3: $280 per week
With a conservative current market rental appraisal of $300 p/w increasing to over 7% gross return and possible to get even more with minor upgrades. Also worth noting the units are strata titled giving the option to sell off individually in the future.
Located in a popular farming town 30 minutes from Bundaberg CBD, with local primary and High schools, Everfresh supermarket, an award-winning bakery, a small regional hospital and all this within walking distance from the property offers unparalleled convenience for tenants. Its proximity to these amenities ensures high rental demand, further solidifying its status as a lucrative investment.
With its impressive return and prime location, this is a must-have for discerning investors looking to maximize their returns.
Don't miss out on this golden opportunity to add a high-return property to your portfolio.
General rates: currently $4,587 per half year (which includes water)
Contact Nathan Powell ? 0410 507 291 or Kiah Thomas ? 0412 889 336 to discuss further and arrange your inspection.
Disclaimer: Powell Property co. have been provided with the above information, however, the Office and the Agent provide no guarantees, undertakings or warnings concerning the accuracy, completeness or up-to-date nature of the information provided by the Vendor or other Persons. All interested parties are responsible for their own independent inquiries in order to determine whether or not this information is in fact accurate.
Property History for 1-3/29 Morris Tce, Gin Gin, QLD 4671
- 03 Jul 2024Listed for Sale Not Disclosed
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About Gin Gin 4671
The size of Gin Gin is approximately 33.8 square kilometres. It has 1 park covering nearly 0.8% of total area. The population of Gin Gin in 2011 was 1,190 people. By 2016 the population was 1,066 showing a population decline of 10.4% in the area during that time. The predominant age group in Gin Gin is 60-69 years. Households in Gin Gin are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Gin Gin work in a labourer occupation. In 2011, 62.8% of the homes in Gin Gin were owner-occupied compared with 58.8% in 2016.
Gin Gin has 806 properties. Over the last 5 years, Houses in Gin Gin have seen a 126.28% increase in median value, while Units have seen a 743.86% increase. As at 31 July 2024:
- The median value for Houses in Gin Gin is $351,298 while the median value for Units is $317,222.
- Houses have a median rent of $440.
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