68 Mark Street

New Farm QLD 4005

For a purchaser of this property, the opportunities are many:-
(1) Continue to manage the high income generating business, as New Farm property values continue to grow strongly
(2) Consider the possibility of sub-division or potential development (subject to council approval).
Features Include:-
Fully accredited residential service up to 27 residents (max);
Consist of 26 rooms; with wash basins included in 24 rooms;
3 separate living areas;
5 fully equipped kitchens over two levels;
3 bathrooms and 2 separate toilets;
Large storage room and separate laundry area;
Large private balcony with city views;
Large onsite parking that can accommodate 5 cars;
Bus stop right outside the property;
Total floor area of approx. 650 m2 (including balcony);
Allotment of 810 m2 and Zoned LMR2;
Accommodation business tracks at close to 100% occupancy, with approx. 80% of renters are long term tenants;
Current gross income of approx. $5,200/week;
Expenses approx. $825/week.
New Farm Capital Growth for Houses (median prices)*:-
o 2013 - 22.4%
o 2014 - 8.8%
o 2015 - 15.4%
*(Source: CoreLogic RP Data)
This property is only a short walk from Merthyr Village, New Farm Park, Powerhouse Museum, the James Street Markets, Gasworks and New Farm Shopping precinct. Here you re surrounded by fine dining restaurants, boutique shops and even closer is the Brisbane CityCat or Riverwalk as a direct routine in to the CBD.