Sold for $885,000
Sold for $885,000130 Francis Street, West End QLD 4810
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Property was sold on 4 April 2023.
Sold on 4 April 2023.
10 beds
4 baths
4 cars
Block of Units
667m²
10
4
4
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Block of Units
667m²
This property is nestled close to the sandy shores, offering an idyllic beach lifestyle.
This has to be one of the best investment opportunities in Townsville currently. It's a block of 4 units that have recently been renovated and are all currently rented with excellent returns. 4810 in Townsville is a very sought-after post code because it means you're close to the city, shopping centres, and the Strand, which is arguably one of Townsville's best beaches. West End in Townsville is very well known as a great place to invest as well, which is where this property is physically located. The units have been given a new lease on life with a massive capital injection that's now just been completed. A massive $25,000 has just been spent on upgrading the mains and sub mains power so you know the property is safe and up to date. Then they went and put in new stairs, new bathrooms, new hot water systems, new gutters, new carpet, new paint, new downlighting and fans…. the list honestly goes on, and because it's all new you have plenty of depreciation you can claim. The block comprises of two 3-bedroom apartments upstairs complete with extra high ceilings to keep away the summer heat, and two easy maintenance, 2-bedroom apartments downstairs. With a solid rental income of $1,430pw you can easily see why it's such a cracking investment! The beauty of having a block of four units is because if one lease is becoming vacant, you still have the income of the other 3 paying into your account. And you really don't have to worry about any units being vacant for long because Townsville has little to no vacancies at the moment, and that doesn't look like it's going to change anytime soon. Imagine having this block of units paid off for your retirement. Currently you'd retire on an income about $74,000 a year from it, but who knows what it'll be in a few years from now. Being located directly across the road from the bowls club can't hurt for cheap beers either. These blocks of units don't come up very often so get in quick or you might miss out! Council rates approx $11,200 per year. This includes water Disclaimer: While all care has been taken to ensure the information provided herein is correct, we do not take responsibility for any inaccuracies. Accordingly, all interested parties should make their own enquiries to verify the information.
