Lot 1, 31 Howard Street, Burrum Heads QLD 4659

Offers over $225,000

3 beds

3 baths

3 parking

Attention Astute Investors!

3 Bedsit Units……3 Long Term Tenants…….Just One Street From The Water…….Great Income……One Low Price!

This gem of an investment property with a potential positive cash flow would suit first time investors, self-managed super fund investors or anyone who just wants a great return on a solid investment!

Located in the sought-after beachside town of Burrum Heads these 3 self-contained bedsit units already have long term tenants in place paying $145 per week each (which is due for an increase).

These units are part of a Community Titles Scheme (made up of a total land size 1012sqm which includes Lot 1 & 2 and common grounds). This property is currently run under a self-managed Body Corporate. Up for sale is Lot 1 which hosts 3 separate bedsit units all with allocated undercover parking and a laundry room (see aerial photos).

Each individual unit consists of kitchenette; bathroom and bedsit room plus undercover parking for one car outside of each unit. All 3 units share a common laundry.

These units are currently managed by an agency, but could easily be self-managed to bring in bigger returns. The current owner has already signed up to install a 5k watt solar system to eliminate the power bills.

You do the sums and work out what a great return this is for such a small investment.
$145 rent per week per unit = $435per week = $22,620 per year gross income that equates to approx 9.5% gross return! (figures are approximate and do not include outgoings)

The owner is committed to selling these units, so call now for more information.

Enquiries welcome on the whole block which includes a further 2 front units.

Property Details

• Type: BlockOfUnits
• Bedrooms: 3
• Bathrooms: 3
• Carport Spaces: 3