240 Carmody Road, St Lucia QLD 4067

BLOCKBUSTER CASH COW! $220,000/annum Returns in blue-chip St Lucia

Rock solid returns & an exceptional blue-ribbon location - this 22 Bedroom Student Accommodation is the prime investment opportunity you have been searching for.

With gross annual returns of $220,000 for the last two years, you can be confident in this cash cow. A block of units this size (22 rooms) in highly sought-after St Lucia on 810m2 of land is exceptionally rare and in-demand. Family held and offered for the first time in 17 years (with excellent returns over that period), this established residence is perfectly positioned just 260m to The University of Queensland. For the astute investor, securing this winning address will reward with significant returns now and into the future.

A purposely designed student-friendly layout gives each of your tenants privacy and convenience. With 2 rooms set up in a traditional apartment style at the front of the complex (apartment 1), the additional 20 rooms have direct external access and feature well-sized kitchen/bathroom facilities. This is low maintenance split-level building boasts 22 rooms, 6 bathrooms and 6 car accommodations. Professionally managed by Hive Real Estate, the specialists in student accommodation, your investment is secure and underpinned by its prime location only 260m to The University of Queensland.

In this blue-chip St Lucia neighbourhood, the checklist is complete. Residents enjoy a short 2-minute walk to UQ, an 8-minute walk to Ironside State School, a 3-minute drive to Guyatt Park City-Cat service and live just a moments to the Toowong Village and Indooroopilly Shopping Centre’s, restaurant and cafe precincts. UQ sporting facilities; a tasty pizza from The Pizza Caffé; riverside walkways; iconic schools and colleges...so much so near can only underpin the future value of this property.

The current owners are divesting due to family circumstances, so reluctantly, it’s time to sell up and sell they will – there will be Auction Action on the 14th of September at 11:00am (On Site). Whole unit blocks offering these proven returns and land sizes do not come along often, so arrange your inspection today and call Elliott Dean on 0401 762 655.

AUCTION 14th September 11AM (ON SITE).

Other features Include:
- Rental Returns:
Financial Year 2018/2019 $219,993.15 Gross
Financial Year 2017/2018 $221,742.56 Gross
(full spreadsheet income & expenditure available upon request)
- 810m2 block (20.1m width X 40.2m length)
- Fully furnished
- Future potential to add even more value (STCA)
- Large undercover car parking area
- Communal laundry area
- Store room at complex
- 6 apartments (6 titles) X 22 rooms X 6 bathrooms X 6 car parks
- Low maintenance lawns and gardens
- Ironside State Primary School and Indooroopilly State High School catchment areas
- Blue-chip premium location

Inspect this once-in-a-lifetime opportunity today! This property goes to AUCTION on the 14th of September 11am (On Site).

This property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.