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Sold on 27 Sep 2024 - Price Unavailable

94 Chestnut Street
Wynnum QLD 4178

Bedrooms: 9
Bathrooms: 4
Car spaces: 5
Land area: 1012m2
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Property Details for 94 Chestnut St, Wynnum

94 Chestnut St, Wynnum is a 9 bedroom, 4 bathroom BlockOfUnits with 5 parking spaces. The property has a land size of 1012m2. While the property is not currently for sale or for rent, it was last sold in September 2024. There are other 9 bedroom BlockOfUnits sold in Wynnum in the last 12 months.

Building Type
BlockOfUnits
Land Size
1012m2
Local Government
Brisbane
Lot/Plan
1/RP133821

Last Listing description (September 2024)

Discover a lucrative investment opportunity in the heart of Wynnum, just a stone's throw from the picturesque waterfront. This sturdy brick complex features 4 units, with 3 currently tenanted, providing immediate rental income and a solid foundation for future growth. The units, while functional, are ready for renovation or redevelopment, offering investors a prime chance to modernize and enhance in a highly desirable coastal location.

Situated on a 1,012sqm block, with its potential for significant appreciation and the ability to generate cash flow from the start, this investment promises substantial returns.

Offering every lifestyle convenience on your doorstep, with local shops, schools, public transport and the Wynnum esplanade, all within walking distance from the property. Whether you're looking to refresh the existing units or explore redevelopment options, this property presents the perfect opportunity to add to your portfolio.

Approximate Annual Outgoings (Council Rates, Water & Sewerage & Strata Insurance): $12,433.67 approx.

Annual Income Appraisal: $115,000 approx.

Unit 1: $370 per week until 15/01/2025
Rental Appraisal: $500 -$550 per week

Unit 2: $450 per week until 15/11/2024
Rental Appraisal: $600 - $650 per week

Unit 3: $465 per week until 10/01/2025
Rental Appraisal: $500 - $550 per week

Unit 4: Requires Renovation
Rental Appraisal: $525 - $575 per week (with basic renovation)

Features include but are not limited to:
• 1,012sqm block
• LMR Zoning
• Four units - three currently tenanted (leases ending January 2025)
• Three 2-bedroom units & One 3-bedroom unit
• Moments from the shoreline & central Wynnum shops precinct
• Wynnum State High School Catchment (919m from the property)
• Manly State School Catchment (1.4km from the property)
• Guardian Angels Primary School (190m from the property)
• Iona College (4km from the property)
• Wynnum Central Train Station (400m from the property)
• Wynnum Esplanade (550m from the property)
• Wynnum Golf Club (1.4km from the property)
• Brisbane CBD (18km from the property)
• Brisbane Airport (20km from the property)

We look forward to seeing you at our next open home and please feel free to call Xander anytime on 0438 689 723 with any questions.

Disclaimer:
We have in preparing this advertisement used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this advertisement.

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Property History for 94 Chestnut St, Wynnum, QLD 4178

A timeline of how this property has performed in the market
Last Sold
27 Sep 2024
Listed for Rent
$265/w
17 Jul 2010
  • 27 Sep 2024
    Sold
  • 28 Aug 2024
    Listed for Sale By Negotiation
  • 19 Nov 2019
    Listed for Rent - Price not available
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About Wynnum 4178

The size of Wynnum is approximately 6.1 square kilometres. It has 18 parks covering nearly 17% of total area. The population of Wynnum in 2011 was 12,229 people. By 2016 the population was 12,924 showing a population growth of 5.7% in the area during that time. The predominant age group in Wynnum is 40-49 years. Households in Wynnum are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wynnum work in a professional occupation. In 2011, 60.2% of the homes in Wynnum were owner-occupied compared with 60.9% in 2016.

Wynnum has 7,213 properties. Over the last 5 years, Houses in Wynnum have seen a 86.37% increase in median value, while Units have seen a 81.60% increase. As at 31 October 2024:

  • The median value for Houses in Wynnum is $1,212,910 while the median value for Units is $788,671.
  • Houses have a median rent of $685 while Units have a median rent of $550.
There are currently 50 properties listed for sale, and 43 properties listed for rent in Wynnum on OnTheHouse. According to CoreLogic's data, 317 properties were sold in the past 12 months in Wynnum.

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Xander Evans
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Harcourts Solutions Inner City
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