16 Elfin Street, East Brisbane QLD 4169
Type of Property: House
Reason for Purchase: Investment Property
Address: 16 Elfin Street, East Brisbane QLD 4169
Property Journey:
The client was looking for a freestanding investment, which would produce a gross yield of at least 5% with a potential of re-development. Cohen Handler sourced and negotiated a freestanding house with 4 self-contained flats, at a 5.6% yield. Sitting on 810sqm in LMR2 zoning, the property has development potential of townhouses or apartments, which will receive city views.
About the Property:
Fantastic property with city views.Inner city convenience with a fully tenanted block of flats with a great income over a double block with city views. Hold or develop it’s a
Inner city convenience with a fully tenanted block of flats with a great income over a double block with city views.
Other features included;
- Fabulous location offering city views and development potential
- Block of four flats on two lots, 810sqm, zoned ResB R4
- Flats are currently returning a total of $1,145 per week
- Side access to ample off street parking at the rear and carport
- Additional single lock-up garage or lockable storage area
- Flat 1: 3 bedroom, 1 bathroom renting for $340 per week
- Flat 2: 1 bedroom, 1 bathroom renting for $260 per week
- Flat 3: 1 bedroom, 1 bathroom plus sleepout $255 per week
- Flat 4: 2 bedroom, 1 bathroom renting for $290 per week
- Close to transport and all the benefits of inner city living
PURCHASED BY:
