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Recently built complex of 12 units set less than 2km to the Toowoomba CBD! Each unit features a large tiled lounge, dining and open plan kitchen, electric cook top and oven, 2 extra large carpeted bedrooms with built-ins, bathroom with shower and toilet, air-conditioning and fan in bedrooms, and solar power.
All units are currently rented through our RE/MAX Success Property Management Division for $290-$295 per week, meaning a gross $3,500 weekly income or $182,000 annual income, with long term tenancies.
NO BODY CORPORATE FEES!
Property set over 2 titles: 8 Link Street -1,462m2 block and 10 Link Street - 1,439m2 (Totaling 2,901m2).
Each unit features:
- 2 carpeted bedrooms with built-in robes
- Open plan combined living, dining and kitchen
- Modern kitchen equipped with quality electric cooking appliances, dishwasher and ample storage
- Bathroom hosting separate shower and separate bath
- Internal laundry fitted with auto taps
- Reverse cycle air-conditioning
- Single carport
- Security screens fitted throughout
- 3kW solar power and solar hot water
- Fully fenced private courtyard
- Rainwater tank with pump
- NBN ready (Smart TV's can be directly connected to NBN socket)
- Large low maintenance backyard
- Spacious layout with open carports, which helps cool hot summer heat
More useful information for investors:
- Each property is rented for $290-$295 per week, meaning a gross $3,500 weekly income or $182,000 annual income, and ROI is approximately 5%
- The property is set two titles, lots 9 and 10, with no overlapping easements.
- Well constructed brick veneer buildings with steel (white ant free) frames.
- Virtually maintenance free (landscaping stone) backyards except Unit 7 which is easy maintenance by tenant.
- 4 visitor carparks at front with rubber bumpers on all 16 car parks to protect fences. All units have huge 400 litre solar hot water systems.
- All retaining walls are concrete post and concrete sleepers for long term durability. Retaining walls are less than one metre high.
- All fences are Colorbond steel for long term durability.
- All carpets are 15 year minimum life stain master supplied by Anderson's carpets.
- NBN (FTTP) Fibre to the premises fully installed in every unit.
- Internal additional data access points installed for television streaming.
- All units have ANL security screens and security doors throughout total complex.
- Low land rates as not strata titled: approximately $6,200 per half year for both blocks.
- All units individually metered and are deemed water efficient; read and billed by RE/MAX Success.
- All units are fitted with low power usage Fluro light tubes in living areas. Front 4 units have LED Fluro lights, that never need maintenance.
- Half the units (at the rear) have water tanks that provide to toilets and washing machine.
- The 12 mail boxes are sealed in a pack and are aluminium, so will not rust.
- All bedrooms have built-in cupboard shelves in addition to higher shelf and hanging space.
- The power box is sheltered within an extra skin sheet, attractive concrete based steel enclosure for long term durability and protection.
- The front fence has a heavy concrete mowing strip meaning both fence stability and strength for easy footpath maintenance.
- All units have solar electrical roof systems. Each is 3kW per unit except Units 9 and 10 which have 1.5kW. Tenants benefit from this input and complies with future thinking government plans of efficiency.
- Easy care plants and maintenance in common areas along and beyond driveway and adjacent to front entrance of premises.
- Extra wide spacious driveway: 5.5-6 metres full length to provide for easy vehicle maneuvering, passing, and all important access maintained when trade or delivery vehicles parked on drive.
About the location:
- The property is bordered at the rear and half of one side by well maintained council parklands for a pleasant outlook.
- The land along the whole street on the west side is owned by the council whilst presently used for storage of council replaced office furniture, Christmas lights, and some carnival flowers festival floats, plus some buildings and space rented to a car carrying firm.
- Council has plans to remove those buildings and turn into parkland backing down to the creek, along with the other side of the creek. A more pleasant outlook will be gained in that direction when this is complete, but no timeframe is known.
- Link Street is a wide and quiet street, yet very well positioned within easy walking distance to the bus stop on Jellicoe Street opposite the park, schools, Bunnings, Northpoint Shopping Centre and not too far downtown to walk if desired.
- Council proposes a pedestrian/cycle track along the creek over time to link to the Railway Precinct parklands which are presently being constructed.
- Tenants and their children daily frequent the well shaded park with swings etc.
- Tennis courts are also available in the park next door.
About Toowoomba (as provided by realestate.com.au, Herron Todd White and Property T Network):
- Toowoomba has a population of over 135,000, and according to Herron Todd White's recent report, is currently positioned at the bottom of their property cycle. As the 16th largest city in Australia, Toowoomba's recent developments are set to sky-rocket the property ladder.
- The Toowoomba Wellcamp Airport has recently been opened to the public. The agricultural region can now fly fresh produce straight to China, alleviating the need for additional travel costs. The Wagner family also have ambitions to build a 1.7 billion dollar road to it.
- The new Wellcamp airport is set to significantly impact the market in a positive direction. Additionally, if large corporates and multi-nationals are adding Toowoomba offices or re-locating to Toowoomba driving commercial and population growth, the area worthwhile to keep an eye out for.
- According to Herron Todd White's residential report (2018), the prestige market performed strongly, particularly in the eastern suburbs as has the upper end of the rural residential lifestyle market.
- The median sales price in the last year (2017-2018) for houses in Toowoomba City, QLD was $342,750 (based on 30 home sales). Compared to the same period five years ago, the median house sales price increased 22.1% which equates to a compound annual growth rate of 4.1%.
- RE/MAX Success' vacancy rate is sitting at less than 1% for the last two quarters with an influx of migrants to Toowoomba. Vacancy rates across Toowoomba are approximately 2% as of April 2019.
- The Toowoomba Second Range Crossing project which is currently under construction potentially contributes to low vacancy rates, with many workers currently living in the area. It is anticipated that the low vacancy rate and substantial infrastructure projects in the pipeline has begun to reignite interest in Toowoomba residential property from investors. The rental yield for houses was 4.6% based on 109 property rentals and 30 property sales over the preceding 12 months.
- Key indicators to ensure ongoing capital growth that investors should watch for include redevelopment, beneficial new infrastructure, new amenities, good education facilities and population growth.
Disclaimer: All care has been taken, however all prospective purchasers are encouraged to independently verify all figures and indications given.