The buyer of this Herston property will highly likely be a very savvy investor, with an aim to buy a property that maximizes their return on investment whilst striving for strong Capital growth in a high demand area.
This beautiful pre-war home on a large 792sqm block has been brilliantly on converted into 4 large units, it is in good condition and ready to become an awesome additional to your investment portfolio.
Even Better.... The current owners will enter a leaseback agreement with the new owner for 12 months with a 12 months extension option! Tenants in place from day one and secure for at least 12 months - huge win!
Current Features of 47 Garrick Tce, Herston:
- The property comprises of 8 Bedrooms, 4 Bathrooms, 4 Living Spaces, 4 Kitchens, 1 Shared Laundry, Multiple utility rooms.
- Unit 1: Includes large combined living/kitchen area, an oversized bedroom and a bathroom.
- Unit 2: Includes a lounge and dining room separated by the kitchen, two bedrooms and bathroom.
- Unit 3: Includes large combined dining and kitchen area plus a lounge space, 3 large bedrooms and a bathroom with a separate toilet.
- Unit 4: Includes large combined living and kitchen area, 2 large bedrooms and a bathroom.
- Each unit has been well cared for and includes air conditioning and plenty of storage.
- Situated on a fairly flat 792sqm block with car parking for 4 cars.
- Well maintained lawns and gardens.
- Close to University, Kelvin Grove Shopping Precinct, Royal Brisbane Hospital and the City.
Rental Estimates:
- Unit 1: Unfurnished - $270.00-$290.00/week
- Unit 2: Unfurnished - $330.00-$360.00/week
- Unit 3: Unfurnished - $400.00-$430.00/week
- Unit 4: Unfurnished - $320.00-$350.00/week
Approximate weekly income between $1,320.00-$1,430.00 per annum.
Investment Opportunity:
- The sellers will lease back the property for 12 months with a 12 month extension option. They will pay fair market rent to be negotiated with new owner.
- Great future potential as rooming accommodation, already registered as a multi-unit dwelling.
Suburb Profile:
Herston is a small Inner City suburb with a population of about 1,900 residents. It is dominated by the Royal Brisbane and Women's Hospital. The hospital campus is also shared by the Queensland Institute of Medical Research, New Dental Hospital and the Royal Children's Hospital.
The suburb is also well know for the Victoria Park Golf Complex, a favourite amongst Brisbane golfers (and mini-golfers too!) and a beautiful complex for weddings and events. It is the always the home of a major Bus way making transport anyway is Brisbane for Herston super easy.
Herston is mostly a residential suburb; many of Herston's residents are employed by the hospital, the nearby at the Queensland University of Technology in Kelvin Grove or make the short 3km trip to the CBD. There is also a significant student population that studies at the university.
The nearby Kelvin Grove Urban Village offers great shopping including many Restaurants and Cafes, a local Supermarket, Butcher, Chemist and with many other great amenities and services such as banking with the local BOQ, Dentists, Doctors, a fantastic Gym. Every Saturday the Village holds a Farmers market from 6am-1pm. You are also only moments away from the Newmarket shops. Also, you can make great use of the Northey Street Organic farmers markets every Sunday - arguably Brisbane's best markets.
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