40 King St, Annerley QLD 4103

:: Cavity brick/internal brick walls/balconies
:: 2 x 3 bed, 3 x 2 bed & 1 x 1bed apartments
:: Renovate & rent at $2,500 per week
:: Potential value post renovations: $2.5mil
:: Easy commute to U.Q (St Lucia) campus
:: Walk to P.A hospital, Buranda Shopping & schools
This is an outstanding opportunity to roll up your sleeves, renovate and invest or even resell and profit in a dynamic inner city precinct. Annerley offers a consistent stream of buyers and tenants standing by for well presented apartments where they can walk to public transport, P.A hospital and Buranda Shopping centre. With an investment and contemporary refurbishment this block could take full advantage of this readymade market. Consisting of a cavity brick building with internal rendered brick walls situated on a choice 820m2 allotment on the corner of Juliette Street.

The apartments are configured as follows: 2 x 3 bedroom units (approx 100m2 ea), 3 x 2 bedroom units (approx 75m2 ea) and 1 x 1 bedroom unit (approx 60m2). Balconies run across the entire east side of the two top floors with sliding glass door access from each property. Each unit also includes a separate Individual lock up garage with internal laundry along the ground floor.
Potential rental returns of around $2500 per week ($130,000 per year) or re-sales totaling $2.5million are possible for those willing to carry out the necessary renovations. It’s rare to find whole blocks of apartments that are strata titled and offered as one single sale. The property will be auctioned on-site at 10am Saturday 18th of April.
Don’t delay; contact me to arrange your inspection today.

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.