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Sold on 02 Aug 2024 for $841,000

40 Mount Mitchell Street
Park Ridge QLD 4125

Bedrooms: 5
Bathrooms: 3
Car spaces: 2
Land area: 390m2
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Property Details for 40 Mount Mitchell St, Park Ridge

40 Mount Mitchell St, Park Ridge is a 5 bedroom, 3 bathroom DuplexSemi-detached with 2 parking spaces. The property has a land size of 390m2. While the property is not currently for sale or for rent, it was last sold in August 2024. There are other 5 bedroom DuplexSemi-detached sold in Park Ridge in the last 12 months.

Building Type
DuplexSemi-detached
Land Size
390m2
Local Government
Logan City
Lot/Plan
36/SP305876

Last Listing description (August 2024)

Welcome to 40 Mount Mitchell Street, Park Ridge, QLD - an outstanding investment opportunity in a prime location. This luxury dual key property is already generating significant returns with long-term tenants in place. Situated in a rapidly developing suburb, this property offers exceptional potential for further capital growth and increased rental yields.

Property Overview

This dual key property consists of two units:

Unit 1:

3 bedrooms
2 bathrooms
1 car garage

Unit 2:

2 bedrooms
1 bathroom
1 car garage

Unit 1 Features:

Living Area: Spacious open-plan living, dining, and kitchen area extending to a patio.
Kitchen: Modern design with stone bench tops and ample storage.
Bedrooms: Three generous bedrooms, including a master bedroom with ensuite and large wardrobe. Bedrooms 1 and 2 are located at the front, providing privacy for the master bedroom at the back.
Flooring: Hybrid floors throughout the house, with built-in wardrobes and ceiling fans in the bedrooms.
Climate Control: Air conditioning in the living area and master bedroom.
Garage: Single lock-up remote garage with internal access and laundry facilities.
Outdoor: Fully fenced and secure backyard.
Lighting: LED lights throughout.
Rental Income: Currently $470 per week, lease until 05/03/2025. Potential rental income is $550 per week.

Unit 2 Features:

Living Area: Open-plan living, dining, and kitchen area opening to a porch.
Kitchen: Modern with ample storage.
Bedrooms: Two bedrooms with built-in wardrobes.
Flooring: Hybrid floors throughout the house.
Climate Control: Air conditioning in the living area and master bedroom.
Garage: Single lock-up remote garage with internal access and laundry facilities.
Outdoor: Fully fenced and secure backyard.
Lighting: LED lights and ceiling fans throughout.
Rental Income: Currently $390 per week, lease until 06/09/2024. Potential rental income is $450 per week.

Financial Highlights:

Current Combined Rent: $860 per week
Potential Future Rent: $1,000 per week
Council Rates: One council rate for the property
No Body Corporate Fees

Location Benefits:

Access: Easy access to major motorways to Brisbane CBD, Sunshine Coast, and Gold Coast.
Amenities: Close to Park Ridge Town Centre with Coles, Woolworths, and Homestead Markets.
Growth: Located in the fast-growing suburb of Park Ridge.

Additional Features:

Security: Security screens on windows.
Outdoor Areas: Fully fenced and landscaped gardens.
Cooling: Split system air conditioning in main living areas.
Kitchen: Overhead cupboards and stone bench tops.
Utilities: Separate electric meters and letterboxes for each residence.
Driveway: Exposed aggregate concrete driveway.

Contact Information:

For more detailed information, including rental and lease details, please contact us now. This property represents a unique opportunity to secure a high-return investment in a prime location. Don’t miss out!

Disclaimer:
We have endeavored to provide accurate and reliable information, but we disclaim any liability for any errors, inaccuracies, or misstatements. Prospective purchasers should make their own inquiries to verify the information.

Property History for 40 Mount Mitchell St, Park Ridge, QLD 4125

A timeline of how this property has performed in the market
Last Sold
$841,000
02 Aug 2024
  • 17 Jul 2024
    Sold for $841,000
  • 17 Jun 2024
    Listed for Sale Offers above $845,000 !!
  • 21 Sep 2020
    Sold for $528,000
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About Park Ridge 4125

The size of Park Ridge is approximately 16.8 square kilometres. It has 10 parks covering nearly 0.8% of total area. The population of Park Ridge in 2011 was 2,328 people. By 2016 the population was 2,509 showing a population growth of 7.8% in the area during that time. The predominant age group in Park Ridge is 70-79 years. Households in Park Ridge are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Park Ridge work in a trades occupation. In 2011, 77.5% of the homes in Park Ridge were owner-occupied compared with 74.5% in 2016.

Park Ridge has 6,210 properties. Over the last 5 years, Houses in Park Ridge have seen a 80.95% increase in median value, while Units have seen a 83.20% increase. As at 30 September 2024:

  • The median value for Houses in Park Ridge is $769,477 while the median value for Units is $645,171.
  • Houses have a median rent of $580 while Units have a median rent of $490.
There are currently 69 properties listed for sale, and 39 properties listed for rent in Park ridge on OnTheHouse. According to CoreLogic's data, 314 properties were sold in the past 12 months in Park ridge.

Suburb Insights for Park Ridge 4125

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Contact agent
Niket Kalra
Show contact details
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.