30 Praed Street

Red Hill QLD 4059

Fully leased gross yearly income $85280, Projected income on lease renewals $98,800. Site zoned CR1 (9.5m height limit) with 21.6m Enoggera Creek frontage and opposite a park. 5 unit complex comprising of 3 x 2 bed, 1 bath, 1 car + storage, + 2 x 1 bed, 1 bath, 1 car + storage. This apartment complex presents a superb opportunity in a sought-after precinct just 4.6km to the CBD. Ideal for investors or your SMSF, this high-income-producing asset boasts no Body Corporate and a prime leafy position with buses, cafes, and restaurants within walking distance.

The solid building features quality brick construction with dual staircase access to every unit. Each apartment includes a combined living/dining area with a kitchen, 1 or 2 bedrooms with built-in robes, a central bathroom and undercover tandem parking for 1-2 cars or 1 car + storage. Majority airconditioned. Additionally the building has two storage rooms.

With all 5 units consistently rented, you can start seeing immediate returns on your investment. Most tenants are long-term, 5+ years. For buyers wishing to capitalise further, there is potential to renovate the complex and generate higher rental income or redevelop the site (STCA).