2C Palmer Street

Millbank QLD 4670

Currently fully tenanted, this 2 storey block of 4 brick units on a quarter acre allotment (1012m2) offers the following;
. Freehold block of 4 units
. Zoning - Residential
. Land Use - Multi-Unit Dwellings
. No Body Corporate fees!
. Lot Size - 1012m2
. Each Unit has the same layout with living room, kitchen and separate laundry situated on the lower level and 2 bedrooms with built in wardrobes plus bathroom with shower, toilet and vanity on the upper level. The main bedroom opens onto the upper deck with stairs going from the deck to the ground level on both sides of the building.
. Units 2 & 4 have been partly renovated with new kitchens and floor coverings.
. All units have security screens to windows and front and back doors.
. Ceiling fans in all living rooms and bedrooms.
. Clothesline for each unit out the back.
. Single undercover car parking space plus one off-street park in front driveway per unit.

Current Tenancies/Rental Income:
Unit 1 - Currently leased for $215pw until 22/9/21
Unit 2 - Currently leased at $220pw from 28/5/21
Unit 3 - Currently leased for $205pw until 20/9/21
Unit 4 - Currently leased for $215pw from 26/5/21
Total Rent - $855pw ($44,460 per annum)

Current Expenses:
Rates - Approximately $7816 per year
Insurance - Approximately $1919 per year

Rental Return:
Current Gross Rental Return - 7.06%
Current Net Rental Return - 5.51%

Nearby Amenities:
. 3-minute drive to Bundaberg base Hospital (1.6km)
. 2-minute drive to Mater Private Hospital (1km)
. 7-minute drive to Bundaberg CBD
. 6-minute drive to Bundaberg Airport
. 5-minutes drive to Train Station and Stockland's Shopping Centre
. 3-minute drive to Queen's Park (1.4km)

Contact Exclusive Listing Agent Tania Bunyan from Ray White Bundaberg on 0488 918588 or email tania.bunyan@raywhite.com for further information and to arrange an inspection.

The information provided is for use as an estimate only and potential purchasers should make their own enquires to satisfy themselves of any matters.