57 Dixon Street, Auchenflower, QLD 4066

  • 8
  • 5
  • 6

Sold

Sold

Block of 5 flats on 895sqm with great returns & potential to increase income!

Car access via corner of Burt & Dowling Street

Owned by the current owners for the last 37 years is this fantastic investment opportunity in the heart of Auchenflower.

With last years’ rental returns just shy of $90,000 gross, this property has never disappointed its owners.

A history of low vacancy and long-term tenants is due to this ideal location, being a 4 minute walk from Auchenflower train station, a 4 minute walk to the closest city-bound bus stop, 5 minutes to The Wesley Hospital and only a 10 minute walk to the Regatta CityCat.

Features include;

- Zoning: LMR2. With traditional building character overlay

- Built prior to 1946

- Elevated & breezy position

- Acoustic- sound reducing glass installed on the Milton Rd side windows (double glazing)

- Bike and pedestrian access to Coronation Drive riverside bikeway

- Each self-contained flat has own kitchen, bathroom & is partly furnished

- Own internal laundry in each flat, (except flat 2 & 3 share a secure laundry)

- Individually metered gas & electricity

- 2 entries/exits to each flat

- Low maintenance gardens

- 3 flats have updated kitchens with 2pak cupboards & granite benchtops

- Car spaces not allocated but room for more than 5 cars



  • Gross income for financial year ending June 2020

    Flats Current rent/week

    #1/57 $15,920 1bed $260 (COVID rent) {prev rent $330}

    #2/57 $17,155 2bed $295 (COVID rent) {prev rent $360}

    #3/57 $15,600 1bed $300

    #4/57 $19,500 2bed +study $375

    #5/57 $20,280 2bed $390

    = $88,455 per annum = $1,620/week

    *Outgoings:

  • Insurance. $4,069 per annum (Public Liability =$20million)

  • Water & sewerage. $1,054/qtr

  • BCC rates. $1,047/qtr

  • Electricity for communal areas. $100 last qtr.

    = $12,873 per annum

    = $75,582 net

    Flats Lease end date

    #1/57 Oct 2020

    #2/57 Jan 2021

    #3/57 Jan 2021

    #4/57 Feb 2021

    #5/57 Jan 2021

    Close to;

    - Auchenflower train station- 350m

    - Bus stop to Brisbane CBD- 290m

    - Regatta CityCat- 1km

    - The Wesley Hospital- 450m

    - Brisbane CBD- 4kms

    A great addition to your SMSF. Inspect now, better than money in the bank!

Property Info:
  • Property ID: L3008574
  • Property Type: BlockOfUnits
  • Garages: 6
  • Land Area: 895.0 sqm
We Know Your Area
R&H Suburb Profile: Auchenflower

R&H Suburb Summary Houses
Number of sales 59
Average Price $1,312,422
Median Price $1,100,000
Median Rental Price $600 p.w.
Change in Rental Rate (5yr) 3 %
R&H Suburb Summary Units
Number of sales 65
Average Price $525,482
Median Price $459,000
Median Rental Price $375 p.w.
Change in Rental Rate (5yr) -4 %
Auchenflower, QLD - Median Trend
1100000.0