748 Ruthven St South Toowoomba QLD 4350
$480,000
Two properties = Two sets of income with one investment!
This property, set over 1,012m2 includes two completed homes and a shed fitted out with storage and a studio conversion. Both properties are currently tenanted and return $520 per week excluding the shed. The shed, which has potential to be let separately, could increase the yield and would be a perfect location for a small business or tradesperson wanting to be located close to the CBD. If you’re a tradie you could make this an office and let it back to your small business whilst controlling the rent. Both homes are in great condition and, even though they are not brand new, they would offer reasonable depreciation.
The front Home:
This gorgeous character home offers all the traditional features you would expect. High ceilings, timber floorboards, a fireplace and generous bedrooms. It has the feel from yester year while offering the convenience of a modern home.
Features include:
2 large bedrooms both with built-in storage and main with air conditioner
Extra large living space with fireplace and air conditioner
Good sized kitchen with separate dining room
Generous laundry with extra space which could be used as an office nook
Fully fenced secure yard with covered gazebo
Single car carport with concrete driveway and off street carparking for two cars
Updated plumbing, electrics and the roof has been replaced including gutters
Currently let at $240 per week there is scope to increase the yield
The Rear Home:
A more modern home built with slab on ground construction and is set back from the street with private access on fully concrete driveway.
Features include:
Generous living space with tiles throughout
Modern kitchen with electric appliances
Two good sized bedrooms
The internal garage has been converted to a room that could easily be your third bedroom
Covered entertaining area
Currently let at $280 per week
The Shed:
Currently excluded from both lease agreements this could be let separately or used for storage/office. One side has been lined and currently is set up like a studio with bathroom inside, this could be the office STCA. The second roller door access is a standard single car garage.
The maths are simple here – the properties are in great condition and the location is close to the CBD. With solid tenancies in place it’s sure to be a solid investment in the years to come with room to increase the yields from the homes and also the shed. Inspection by appointment can be arranged at any time that suits.
Property Features
Water Rates : $460
Council Rates : $1847
