69 Rankin St, Innisfail is a 8 bedroom, 4 bathroom House with 4 parking spaces. The property has a land size of 1012m2. While the property is not currently for sale or for rent, it was last sold in November 2024. There are other 8 bedroom House sold in Innisfail in the last 12 months.
This solid block of 4 x 2 Bedroom apartments is ideal for those self-managed superannuation funds or the savvy residential property investor. We have been running at almost zero vacancies for the last two years. It is currently returning a net rental income of 5.24% however we are of the strong opinion that it is under-rented and could be returning 6.35% net.
If you add this to the value of the undeveloped land on the site which could house another 4 apartments (STCA) then you can really see value here.
The property is located just 200 metres from the CBD of Innisfail and just a block from the river's edge. It offers lovely river views but is on the side of the ridge so will not be affected by flooding.
Built of solid concrete block and brick with a suspended concrete slab between them. Each apartment has two bedrooms and 1 bath with decent kitchens and living rooms. They all have off-street undercover parking and air conditioners in the main bedrooms.
This is as set-and-forget as you can get.
Contact Michael Skuse
The size of Innisfail is approximately 2.1 square kilometres. It has 13 parks covering nearly 21.8% of total area. The population of Innisfail in 2011 was 1,075 people. By 2016 the population was 1,137 showing a population growth of 5.8% in the area during that time. The predominant age group in Innisfail is 20-29 years. Households in Innisfail are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Innisfail work in a labourer occupation. In 2011, 35.4% of the homes in Innisfail were owner-occupied compared with 32% in 2016.
Innisfail has 884 properties. Over the last 5 years, Houses in Innisfail have seen a 85.93% increase in median value, while Units have seen a 53.60% increase. As at 30 November 2024:
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