57 Dixon Street, Auchenflower, QLD 4066

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!