42 George Street, Bundaberg South QLD 4670

1-4 42 George Street Bundaberg South - Information Memorandum Available on Request.

This unit complex made up of 4 units returns $1,135 per week ($59,020 gross pa) is located near the heart of the Bundaberg CBD, outgoing costs are detailed below. The Hinkler Shopping Centre and Melbourne Hotel are within a short stroll, allowing tenants to put their cars away and walk to all, and any required amenity. There are 3 x two bedroom units and 1 large 3 bedroom unit in the complex.

For Investors this is the one that you want to buy as the current owners have maintained the whole complex and recently upgraded each unit with refurbished kitchens and bathrooms etc; a full list is contained in the IM. The complex is 2022 fire alarm compliant, so no extra costs are required. An independent Pest & Building Inspection has been performed and this report is also contained within the IM. This large unit complex is positioned on an elevated level, flood free block and is one of the closest residential units to the CBD. With Bundaberg's current rental vacancy rate at 0.04% (source REIQ) this investment is money in the bank.

You will find 1 extra large 3 bedroom unit at the rear of the block that would suit an owner occupier. This unit has a huge garden area with vehicle access, a brand new split system air conditioner (installed April 21), a large kitchen and an extra large living-dining room. All nestled quietly at the rear of the building, perfect for owners to live in this unit and collect rents from the other three.

As the property is fully tenanted, inspections are limited to Wednesday's 26 May, 2 June & 9 June between 11.30 am and 12.30 pm. The Auction is in-rooms Thursday 17th June at The Events Centre, 20 Minchinton Street, Caloundra. You may register and attend in person or bid via phone and watch the event on a live Zoom video. (link to be provided prior to the time of the auction)

Property features include:

- 1 x large 3 bedroom unit & 3 x big 2 bedroom units
- Very neat solid brick construction
- All 4 units have been upgraded to meet 2022 fire alarm compliance
- All bedrooms have built-ins & carpets
- All have refurbished kitchens and bathrooms
- Open plan lounge & dining with airy raked ceilings
- Ceiling fans throughout and unit 4 is air-conditioned
- Secure private fenced patio areas front and rear, with timber decking in the front courtyards
- Single lock up garage with remote doors and internal unit access
- Only a short walk to the Bundaberg CBD & local shops, schools & medical
- Flood free property in the two big one's 2011 & 2013
- Extremely solid investment, returning $1,135 per week!
- All currently tenanted + potential for rental increase!

TENANCY DETAILS:

Unit 1 - returning $280 p/w - lease ends 30/05/22

Unit 2 - returning $280 p/w - lease ends 24/03/22

Unit 3 - returning $280 p/w - lease ends 18/01/22

Unit 4 - returning $295 p/w - lease ends 19/02/22

Total: $1,135 p/w

OUTGOING'S:
COUNCIL RATES and CHARGES: $3384.00 per half year
WATER RATES: $ 723.00 per half year (approx.)
INSURANCE: $2,213.00 per year


**COVID-19 restrictions for property inspections: please do not attend any Ray White site/property if you're ill, or have recently visited an area that's been nominated as a coronavirus hotspot and have not quarantined in the previous 14 days. There must be no more than one person per 2 square metres with attendees to remain at least 1.5 metres away from other groups (where possible). Social distancing & hygiene protocols (including mask wearing when mandatory) should be observed. Attendees will be required to register their contact details for tracing purposes.**