15 East St, Lutwyche is a 7 bedroom, 5 bathroom BlockOfUnits with 5 parking spaces. The property has a land size of 779m2. While the property is not currently for sale or for rent, it was last sold in May 2024. There are other 7 bedroom BlockOfUnits sold in Lutwyche in the last 12 months.
Two storey brick unit block located in close proximity to Lutwyche Road and the newly renovated Lutwyche Shopping Centre approximately 6.5kms from Brisbane CBD. Lutwyche is going through significant gentrification with all the new infrastructure and proximity to the city..
The complex has been well maintained with secure long term tenants achieving the following in rent:
Ground Floor
Unit 1 - 1 bed, 1 bath and carport rented at $360 per week size 63sqm
Unit 2 - 1 bed, 1 bath and carport rented at $360 per week size 61sqm
Unit 3 - 1 bed, 1 bath and carport rented at $360 per week size 65sqm
First Floor
Unit 4 - 2 bed, 1 bath and carport rented at $450 per week size 92sqm
Unit 5 - 2 bed, 1 bath and carport rented at $450 per week size 93sqm
Total income per year is $102,960 less outgoings
The complex does not have a body corporate so the only outgoings are the rates ($480 per quarter per unit) and water rates ($237 per quarter per unit plus water usage) for the units.
The unit block is located at the front of the block with a rear five carport plus laundry facility - access to the carport via adjacent laneway. Opportunity to land bank the site for future development - subject to BCC approval to 5 stories or build further units or townhouses on the land available at the rear of the property where the carport is currently located.
Short stroll to Lutwyche Shopping Centre, gyms and fitness centres.
Approx 6.5kms to Brisbane City and easy access to bus services into the City.
The size of Lutwyche is approximately 0.9 square kilometres. It has 9 parks covering nearly 11.8% of total area. The population of Lutwyche in 2011 was 2,801 people. By 2016 the population was 3,463 showing a population growth of 23.6% in the area during that time. The predominant age group in Lutwyche is 20-29 years. Households in Lutwyche are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Lutwyche work in a professional occupation. In 2011, 39.1% of the homes in Lutwyche were owner-occupied compared with 34.2% in 2016.
Lutwyche has 2,974 properties.
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