SOLD
Sold on 28 Feb 2024 for $390,000

48/7 Brown Street
Labrador QLD 4215

Bedrooms: 3
Bathrooms: 3
Car spaces: -
Floor area: 83m2
Land area: 817m2
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Property Details for 48/7 Brown St, Labrador

48/7 Brown St, Labrador is a 3 bedroom, 3 bathroom Unit and was built in 1994. The property has a land size of 817m2 and floor size of 83m2. While the property is not currently for sale or for rent, it was last sold in February 2024. There are other 3 bedroom Unit sold in Labrador in the last 12 months.

Building Type
Unit
Year Built
1994
Floor Size
83m2
Land Size
817m2
Local Government
Gold Coast City
Lot/Plan
48/SP173171

Last Listing description (October 2024)

Strictly STUDENT ACCOMMODATION ONLY - Not available to owner occupiers or first home buyers.

Won't last long - this safe investment opportunity is achieving astounding returns and solid demand.

The unit comes with 3 bedrooms, each with an en suite and each bedroom/en suite is rented separately so you earn 3x the income.

This unit has multiple improvements made, including but not limited to: renovated flooring, brand-new air conditioner, new study desks and more.

Gross yield is Circa 11% with the potential to increase depending on the term of the lease for the occupants.

The building has an exclusive agreement in place with the nearby university. This ensures high occupancy, providing owners with security that their investment continues to generate income.

The complex has professional onsite management who handles the day-to-day management of the units and tenants for the owners.

Register your interest with the exclusive selling agent, Joshua Dean on 0447 777 148

***Inspections by appointment only***

Rental income: Currently achieving $800 p.w
Occupancy rate: 80 to 90% average.

Outlays:
? City council rates: approx. $42 p.w
? Water rates: approx: $46 p.w
? Body Corporate Fees: $94.63 p.w
? Special levy: $44.33 p.w

Strictly STUDENT ACCOMMODATION ONLY - Not available to owner occupiers or first home buyers.

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Property History for 48/7 Brown St, Labrador, QLD 4215

A timeline of how this property has performed in the market
Last Sold
$390,000
28 Feb 2024
Listed for Rent
$180/w
28 Jun 2019
  • 28 Feb 2024
    Sold for $390,000
  • 06 Nov 2023
    Listed for Sale UNCONDITIONAL
  • 21 Mar 2022
    Sold for $242,500
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About Labrador 4215

The size of Labrador is approximately 5 square kilometres. It has 19 parks covering nearly 14.6% of total area. The population of Labrador in 2011 was 16,401 people. By 2016 the population was 18,277 showing a population growth of 11.4% in the area during that time. The predominant age group in Labrador is 20-29 years. Households in Labrador are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Labrador work in a professional occupation. In 2011, 46.2% of the homes in Labrador were owner-occupied compared with 45.1% in 2016.

Labrador has 11,845 properties. Over the last 5 years, Houses in Labrador have seen a 107.49% increase in median value, while Units have seen a 102.17% increase. As at 31 October 2024:

  • The median value for Houses in Labrador is $1,068,941 while the median value for Units is $702,019.
  • Houses have a median rent of $680 while Units have a median rent of $630.
There are currently 130 properties listed for sale, and 30 properties listed for rent in Labrador on OnTheHouse. According to CoreLogic's data, 566 properties were sold in the past 12 months in Labrador.

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Contact agent
Joshua Dean
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RAAS Property Group
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