OFF MARKET

298 Melton Road
Northgate QLD 4013

Bedrooms: 12
Bathrooms: 12
Car spaces: 5
Land area: 571m2
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Property Details for 298 Melton Rd, Northgate

298 Melton Rd, Northgate is a 12 bedroom, 12 bathroom Unit with 5 parking spaces. The property has a land size of 571m2.

Building Type
Unit
Land Size
571m2
Local Government
Brisbane
Lot/Plan
1/SP273566

Last Listing description (November 2020)

Please call Dean and Simon to arrange an immediate inspection!!

Finished in 2016, built to the highest standards, and designed exclusively as an investment property, this strata-titled block of five units is being sold in one line for the first time.

Returning $126,880 (gross approx.) this modern investment property has leases in place in all five units, and was constructed by the current owner to enhance its value as a high-performing, investment-grade residence.

The block consists of five units. There are two units of three-bedroom, three-bathroom, single garage construction, and three units of two-bedroom, two-bathroom, single garage construction. Each bedroom is finished with an en suite, built-in wardrobes, and each unit has ducted air-conditioning. Three ground floor units boast courtyard space, while the two upstairs residences are complete with spacious and fully covered al frescoes.

A golden high-yield investment opportunity, don't miss your chance to acquire this nest egg which will serve you superbly for decades to come.

FEATURES:

* 3-year-old, purposefully designed, investment-grade unit block.
* Gross return of $126,880 per annum (approx.).
* Leases in place in all 5 units, with one unit tenanted on a room-by-room basis.
* Low-maintenance 644sqm block.
* Three x two bedroom, two bathroom, single garage units; two x three bedroom, three
bathroom, single garage units.
* 3 min walk to Northgate train station: ideal convenience for tenancies.

Give Dean and Simon a call to discuss this fantastic opportunity and to receive the full incomings/outgoings breakdown.

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Property History for 298 Melton Rd, Northgate, QLD 4013

A timeline of how this property has performed in the market
  • 05 Nov 2020
    Listed for Sale Sold
  • 17 Sep 2019
    Listed for Sale OFFERS OVER $1,890,000
  • 07 Jul 2016
    Listed for Sale Not Disclosed

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About Northgate 4013

The size of Northgate is approximately 3.3 square kilometres. It has 12 parks covering nearly 13.1% of total area. The population of Northgate in 2011 was 4,304 people. By 2016 the population was 4,553 showing a population growth of 5.8% in the area during that time. The predominant age group in Northgate is 20-29 years. Households in Northgate are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Northgate work in a professional occupation. In 2011, 54.6% of the homes in Northgate were owner-occupied compared with 52.7% in 2016.

Northgate has 2,759 properties. Over the last 5 years, Houses in Northgate have seen a 75.81% increase in median value, while Units have seen a 77.43% increase. As at 30 September 2024:

  • The median value for Houses in Northgate is $1,177,318 while the median value for Units is $640,827.
  • Houses have a median rent of $643 while Units have a median rent of $530.
There are currently 20 properties listed for sale, and 9 properties listed for rent in Northgate on OnTheHouse. According to CoreLogic's data, 136 properties were sold in the past 12 months in Northgate.

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