East Brisbane, QLD 4169

Type of Property: House

Reason for Purchase: Investment Property

Address: 16 Elfin Street, East Brisbane QLD 4169

Property Journey:

The client was looking for a freestanding investment, which would produce a gross yield of at least 5% with a potential of re-development. Cohen Handler sourced and negotiated a freestanding house with 4 self-contained flats, at a 5.6% yield. Sitting on 810sqm in LMR2 zoning, the property has development potential of townhouses or apartments, which will receive city views.

About the Property:

Fantastic property with city views.Inner city convenience with a fully tenanted block of flats with a great income over a double block with city views. Hold or develop it’s a

Inner city convenience with a fully tenanted block of flats with a great income over a double block with city views.

Other features included;

  • Fabulous location offering city views and development potential
  • Block of four flats on two lots, 810sqm, zoned ResB R4
  • Flats are currently returning a total of $1,145 per week
  • Side access to ample off street parking at the rear and carport
  • Additional single lock-up garage or lockable storage area
  • Flat 1: 3 bedroom, 1 bathroom renting for $340 per week
  • Flat 2: 1 bedroom, 1 bathroom renting for $260 per week
  • Flat 3: 1 bedroom, 1 bathroom plus sleepout $255 per week
  • Flat 4: 2 bedroom, 1 bathroom renting for $290 per week
  • Close to transport and all the benefits of inner city living

Location

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