138 West Street, Allenstown QLD 4700

Interesting opportunity for investors searching for a high rental return property. This 7 bedroom boarding house is well-located in central Allenstown and holds mostly long-term leases to wonderful tenants with a gross return of almost $50,000 per annum, representing a very high yield on investment. The building is in good condition, and the property is a gilt-edged addition to a new or existing real estate portfolio.
- Current rental investment yield of 12.5%
- 7 single bedroom, retro studio apartments
- Varying leases (most long term) returning $960 per week
- Cosy, eat-in kitchenettes with oven/microwave
- Each studio has air-conditioning, ceiling fan and cupboards
- Larger common room for community/group use
- Shared bathroom and laundry facility
- 493m2 level lot, maintained and fully fenced
- Central Allenstown location to suit possible future redevelopment
- Current use is women's boarding complex with good tenants