Units 1-6/69 Richmond Street, Maryborough QLD 4650

Offers Over $650,000

5 beds

3 baths

3 parking

INVESTMENT OPPORTUNITY IN MARYBOROUGH

Are you looking to elevate your investment portfolio? If yes, then this unit complex located at 69 Richmond Street, Maryborough may be right up your ally. These units are currently receiving an approximate net return of 5% with ample growth potential.

Situated on a generous 1,393m2 flood free allotment, you will find two dwellings conveniently located directly across the road from Maryborough Central Shopping Centre and within walking distance to other shopping precincts.

The first dwelling located at the front of the property is a high-set complex with 3 units (2 x 2 bedroom & 1 x 1 bedroom unit). All units are equipped with bedroom/s, bathroom, separate toilet, kitchen, living area, car space and laundry.

The second dwelling located at the rear of the property is a low-set Queenslander which has been divided into an additional 3 units. The current condition of this dwelling would need to be significantly improved to occupy tenants. There could be potential to demolish this house (subject to council approval) and, in time, build brand new units or another option is to leave as-is and intensively renovate.

Current lease details are:

Unit 1
- Currently returning $260 per week
- Lease start date 19th January 2022
- Tenant in place until December 2023

Unit 2
- Currently returning $280 per week
- Lease start date 13th May 2022
- Tenant in place until November 2023

Unit 3
- Currently returning $260 per week
- Lease start date 18th May 2023
- Tenant in place until May 2024

Additional information:
- Flood free property
- No body corporate
- Council rates are $14,825.46 per annum

To make an enquiry on this unique opportunity call Nikki Harmer today.

Property Details

• Type: BlockOfUnits
• Bedrooms: 5
• Bathrooms: 3
• Other Parking: 3