36 Olive Street, Nundah QLD 4012

36 Olive St, Nundah is your chance to secure a prime inner-city investment returning approx $166,140 per year (approx 6.64% yield).

This 13 bedroom boarding house with long term tenants currently has accreditation for 17 residents and the potential to add extra rooms and increase the yearly return by $39,000 p/a.

These strong returns and ability to add value will benefit investors looking to add a strong investment to their portfolio.

In the heart of Nundah, this solid Queenslander on a 399m2 corner block has long term tenants and a large waiting list of tenants looking for accommodation.

Property Highlights-
Strong investment with approx 6.64% yield
Currently returning $166,140 p/a
Well built, solid Queenslander can be converted back to a family home
399m2 corner block
Potential to add more rooms returning an extra $39,000 p/a (new total yearly income = $205,140 p/a)
Currently registered as a 13 bedroom boarding house with accreditation for 17 residents
Long term tenants
Only approx 250 boarding houses left in QLD (previously 400+ only 3 years ago)
Non existent vacancy rates do to high demand of rooms
High waiting list for accommodation
No rent areas as rent is paid directly through centrepay/ centrelink
Exterior freshly painted
No GST on the property
Low maintenance yard

Outgoings-
Electricity $6,624 p/a approx
Water $3,308 p/a approx
BCC Rates $3,047 p/a approx
Maintenance $2,000- $3,000 p/a approx
Insurance $5,000 p/a approx

Locations-
1km to Nundah Village
12km to Brisbane CBD
6.1km to the Brisbane Airport
800m to Nundah Train Station
3.7km to Westfield Chermside