20A Moffatt Street

Ipswich QLD 4305

The potential of this property has so much upside. The property was previously an 9 room boarding house. The approvals and all relevant requirements for a boarding house are still in place. Not only do you have this advantage the seller has provided a town planning report showing there is the possibility to extend the building and create more rooms/accommodation (STCA).

The lease is in place for the next 2 years with the first year returning $57,200 and the second year of the lease increases to a huge $62,400 per year. Outgoings on the property are approx. $10,000.

Features:

. The key benefits of owning this property include:
. 1st year Gross annual income of $57,200
. 2nd year gross annual income of $62,400
. Forecast annual net income over the 2 years is a huge 6.23%
. Plus the property fully approved to operate as a 9 boarding house
along with an approved management plan
. Potential to improve income performance via a DA (STCA) to
create more units/extension of existing building
. Next door to a medical centre and pathology
. Close to Ipswich CBD, University Campus, hospital, shopping centres
High & primary schools Walking distance to public transport (train and bus)
. Professionally managed on a secure 2 year lease
. Strong potential for future redevelopment on this near CBD location
. NBN connected - all internet services
. Please contact Darren Boettcher to arrange an inspection.
*Approximate Gross return