55 Cressey St, Wavell Heights QLD 4012, Australia

This is a fantastic opportunity for savvy investors, future developers, renovators or owner occupiers. The property consists of four flats situated on a prime 870sqmtr corner block in a great location, this is a rare property that doesn’t become available in Wavell Heights very often. Zoned Residential A – Multi Unit Dwelling the site has a current income of approximately $77,000 per annum. The site is flood free and has no easements or sewer lines that would impact future development.

Each flat is neat and tidy with a separate courtyard plus double car accommodation and separate laundries under. There is scope to value add by renovating the flats in the future. Renovations would also mean an even better annual return. The buildings have been well maintained with a new roof installed two years ago as well as new water pipes and individual water meters installed.

Current property format and features:

*all units are on one title

Unit 1: 2 bedrooms, 1 bathroom, 2 car accommodation, separate laundry, separate fenced back yard exclusive use. Lease expires 30/07/2024. $360 per week.

Unit 2: 2 bedrooms, 1 bathroom, 2 car accommodation, separate laundry, separate fenced back yard exclusive use. Lease expires 09/01/2025. $375 per week.

Unit 3: 2 bedrooms, 1 bathroom, 2 car accommodation, separate laundry, separate fenced back yard exclusive use. Lease expires 31/10/2024. $375 per week.

Unit 4: 2 bedrooms, 1 bathroom, 2 car accommodation, separate laundry, separate fenced back yard exclusive use. Tenant has vacated and seeking new tenant. Expected rent is $395 per week.

Wavell Heights is conveniently located with close proximity to the Brisbane CBD and well serviced by major transport, bus and rail. Brisbane Airport, Nundah Village and Westfield Chermside are all just a short drive away.