BLOCK OF UNITS FOR SALE 151-153 NATHAN STREET CRANBROOK

151-153 Nathan Street Cranbrook, Qld

Block Of Units Buy – $3,500,000

151-153 Nathan Street Cranbrook, Qld151-153 Nathan Street & 6 Albert Street, Cranbrook

The property is a large land parcel over two titles that are home to three buildings in total that make up 24 x two bedroom semi-furnished units. The property has been a fantastic investment for the family who have held for just under 40 years now from the day it was first built. However with the partners all in retirement years and wanting to pursue other interests separately the time has come to dissolve all assets and this is the last one remaining in the joint portfolio.

A substantial holding of 3684m2 and in such a prime location it is no wonder the complex has enjoyed such a high occupancy rate and at present is returning just over $300,000 per year in gross rent. The site has returned an average annual income of approximately $300,000 per annum for the last 4 years. At full occupancy on current rental prices the property enjoys $323,440 per annum.

With the current town plan under review there is scope to secure a prime site and “park” your investment and enjoy a generous income to service the investment while you plan your long term approach to this significant site. With so much infrastructure on your doorstep there will never be a shortage of tenants and the possibilities under a new re-vamped town plan could be significant.

The sheer income potential from this site gives the investor an instant source of return and with all the investment/infrastructure in the immediate area, the odds of long-term capital gains of this asset are stacked well in favour of the property owner.

The three buildings are of solid construction and at the time of writing this IM, 22 of the 24 units were rented and of particular note, some of the tenants have been living in these units for over 10 years. The two buildings with 8 and 4 units respectively are of red brick and tiled roof construction whilst the 12 unit building fronting Albert street is of masonry block external (and internal) construction with an iron roof.

Full information memorandum available by contacting the agent.

Block of Units For Sale 151-153 Nathan Street Cranbrook

Damien Keyes

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