9/30-34 Palmer StreetSouth Townsville QLD 4810
Property Details for 9/30-34 Palmer St, South Townsville
9/30-34 Palmer St, South Townsville is a 2 bedroom, 2 bathroom Unit with 2 parking spaces and was built in 1999. The property has a land size of 139m2 and floor size of 82m2. While the property is not currently for sale or for rent, it was last sold in December 2022.
Last Listing description (November 2022)
Location, location, location. Outstanding views. Units in this block are rarely for sale. If you have been looking for a brilliant investment, this is the one for you. Returns in excess of 8.6% and increasing! Leased through the onsite Manager (Alliance). Manager pays: Body Corporate Administration fee. Owner pays: Council Rates and Sinking Fund costs.
Fully refurbished in 2015, this spacious duel occupancy apartment features new carpets & paint, new kitchen joinery , appliances and full upgrade to both bathrooms.
The apartment is a dual key configuration featuring 2 bedrooms, 2 bathrooms, and car park on title. THis end unit has extra big patio's and rear views down Palmer street as well as views over the marina. There is also a fantastic pool area to enjoy on the hot days.
Townsville is the major business hub in Northern Queensland and home to the Lavarack Army Base, one of the major defence installations in Australia which supports jobs and local infrastructure.
Lease Details:
Current Rent: $428 per week ($22,267 p/a)
Current Return: 7.42% Gross/ 4.9% Net
Lease Terms: Lease to 31/07/2024 with 3 x 5 Year options..
Rent Increases: 4% with a market review at the end of every 5th year
Rent Increases & Gross Yields To Next Review:
1/08/2019: $23,158 / 7.7% Gross
1/08/2020: $24,085 / 8.0% Gross
1/08/2021: $25,048 / 8.3% Gross
1/08/2022: $26,050 / 8.6% Gross
1/08/2023: $27,092 / 9.0% Gross
1/08/2024: MARKET RENT REVIEW
Approximate Owner Outgoings:
Council and Water Rates: $3056 p/a
Body Corporate Administration & Sinking Fund: $4493 p/a
Property History for 9/30-34 Palmer St, South Townsville, QLD 4810
- 13 Dec 2022Sold for $300,000
- 19 Oct 2019Listed for Sale $335,000
- 28 Jan 2003Sold for $215,000
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About South Townsville 4810
The size of South Townsville is approximately 5.4 square kilometres. It has 7 parks covering nearly 4% of total area. The population of South Townsville in 2011 was 2,137 people. By 2016 the population was 2,352 showing a population growth of 10.1% in the area during that time. The predominant age group in South Townsville is 20-29 years. Households in South Townsville are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in South Townsville work in a professional occupation. In 2011, 47.5% of the homes in South Townsville were owner-occupied compared with 44.8% in 2016.
South Townsville has 1,801 properties. Over the last 5 years, Houses in South Townsville have seen a 77.97% increase in median value, while Units have seen a 45.14% increase. As at 31 October 2024:
- The median value for Houses in South Townsville is $522,877 while the median value for Units is $408,887.
- Houses have a median rent of $500 while Units have a median rent of $495.
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