14 Bedroom Unit for Sale in SOUTHPORT 201 High Street

201 High Street SOUTHPORT

THE BLOCK

*Video Available To View Online*

So here is a property only 1 block away from the Broadwater, in an awesome location!

What you have just found is a block of 7 units on 1 title. The building has been here for about 22 years, so yes it needs some renovating so we have priced it accordingly and even as is, the returns are great!

Each of these units consists of the same configuration which is:

- 2 bedrooms
- 1 bathroom
- open plan kitchen and dining area.

Whilst some units have been renovated to various different degrees, they are highly sought after as rental accommodation by nearby workers in Southport’s CBD or many university students studying at Griffith.

There is a shared laundry for all residents as well as ample car parking with a total of 10 car spaces available.

The market rent for each unit is approximately $250 per week meaning the total rent return is just over $91,000 a year! That’s close to a 9% return!

All this in a fast growing area, where you can enjoy boating, fishing as well as an easy walk to Southport CBD where the Australia Fair Shopping Centre is as well as tafe colleges, hospitals, basically everything the Gold Coast in known for!

Financial Information:
* Electricity is separately metered and on hot water off peak.

Rental Return:
Rent #1 @ $285 per week (appraised)
Rent #2 @ $250 per week (appraised)
Rent #3 @ $250 per week (appraised)
Rent #4 @ $250 per week (tenanted)
Rent #5 @ $250 per week (appraised)
Rent #6 @ $250 per week (appraised)
Rent #7 @ $250 per week (tenanted)

Outgoings:
Council Rates @ $5,500 per year
Water Rates @ $1,500 per year
Insurance @ $3,000 per year

Edgar