Boutique block of flats in high-growth suburb – land-bank or redevelop

133 Lytton Road, East Brisbane QLD 4169 AUS

Property Details

Sold $1,150,000

Description

Presenting an entry-level opportunity to purchase an income-generating asset just moments from Brisbane’s CBD, this spectacular offering invites you to secure a block of three units with the potential return of over $65,000 per year. The upside opportunity for the property is for renovation to increase rental income or to apply to council to redevelop the property and increase the yield.

133 Lytton Road is ideally positioned close to the iconic Gabba Cricket Grounds and the soon-to-be-completed Cross River Rail Woolloongabba station precinct. It is also within walking distance of the Mowbray Park City Cat, local schools and restaurants, as well as the future infrastructure for the sporting events in 2032.

Full of potential, the property encompasses three units and a generous fully-fenced grassed rear yard. Beautiful timber floors and lofty ceilings are showcased throughout all three residences, while VJ walls and decorative breezes feature in selected rooms.

All three units encompass their own living areas, kitchens and laundries, plus two bedrooms and one bathroom. Other notable details include secure parking for one car per apartment and a communal rear yard.

Details include:

Unit 1: Two bedroom, one bathroom and one car configuration with a periodic lease ($310 per week) and a potential rental income of $420 per week
Unit 2: Two bedroom, one bathroom and one car configuration, which is vacant and has a potential rental income of $420 per week
Unit 3: Two bedroom, one bathroom and one car configuration with an owner-related tenant and a potential rental income of $420 per week

Investors can expect a potential rental return of $65,000 per annum, approx.

Council Rates: $480.95 per unit, totalling $1,442.85 approx. per qtr
QUU fees: $262.66 per unit, totalling $787.98 approx. per qtr
Body Corporates: the body corporate has been dissolved, therefore meaning minimal outgoings, mainly maintenance of the property

Ideally positioned for the exciting events at the Gabba Cricket Grounds and surrounds in 2032, this fantastic property is a stone’s throw from a multitude of shops and dining options. Leafy Mowbray Park and its ferry terminal are nearby, as are numerous city-bound bus stops. Raymond Park’s sporting grounds, the popular Kangaroo Point Cliffs Park and Bulimba’s fashionable attractions are minutes away.

Falling within the East Brisbane State School and Coorparoo Secondary College catchment areas, this excellent offering is also a short distance from Anglican Church Grammar School, Saint Joseph’s Catholic Primary School and Somerville House. Do not delay – call to arrange an inspection today.

Our clients are genuine sellers and would like all offers in writing.

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.

Property Features
  • Block Of Units
  • 6 bed
  • 3 bath
  • 3 Parking Spaces
  • Land is 607 m²
  • 3 Garage

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