1 Newell Avenue

Mareeba QLD 4880

This solid, concrete block unit complex is on the market for the first time in many decade. Situated on a 1012m2 allotment in a quiet cul-de-sac towards the northern end of town, Units 1 & 2 were built in the 1970s, with Units 3 & 4 being added in the 1980s.This complex of 4 units is currently returning an income of $1,140 per week; presenting a terrific opportunity for investors to snap up now. 8 Beds 4 Baths 4 Car Accommodation (single carports) Off-street parking availableConstructed from solid masonry block inside and out and with iron roofing; each unit features 2 bedrooms and 1 bathroom, combined living & dining space, kitchen, internal laundry + single carport. Units 1 & 2 have some air-conditioning and security screening on doors and windows, while Units 3 & 4 have standard screen netting. The current owners have enjoyed a relatively low vacancy rate over many years. With this investment, income is spread across 4 separate rentals, so when 1 tenant decides to relocate, you still have the benefit of receiving income from the other 3 units.Considering investing? This complex of 4 units is an immediate income earner, has a great occupancy and rental history and represents a solid residential property asset for the astute investor to acquire. At the same time, new owners can bring in their own ideas to make further improvements to the property as there is scope to capitalise and add some contemporary updates over time, with the aim of increasing the ROI.So, if property investment is on your radar, put this unit complex on your must see list. From all of us at Mareeba Property Office, we wish you every success with your property search. If you would like more details or to arrange an inspection on this property, please call or email us today.