(address available on request) Bowen Hills / Fortitude Valley

Details

Mixed use investment, returning 6% nett*

This stunning Bowen Hills inner city investment opportunity is a one-of-a-kind dual key:
Unit 32– a two-bedroom residential apartment on the first floor and
Shop 3 – a commercial shopfront on the ground floor.
With an internal stairwell connecting both (currently blocked off at the apartment could be easy to reinstated)
Currently used as 2 separate rental properties in a single ownership.

The apartment has an excellent open-plan kitchen, dining, and living space that directly opens onto your private and spacious balcony, which looks out over a lovely, perfectly placed street tree.
The master bedroom has an ensuite, walk-in wardrobe, and direct balcony access. The second bedroom has a built-in wardrobe and is directly opposite the main bathroom.
The kitchen is well-sized, with an electric oven, stove, and dishwasher. This was a successful long-term tenancy, and more recently, has been used as an Airbnb with an excellent occupancy rate and revenue stream.
The apartment can be negotiated to include the furniture or empty.

On the ground floor, you would also own shop 3, around 100m2 retail space and shared use of the front street access car parking reserved for these retail shops. Currently occupied by an excellent long-term tenancy, a private gym & personal trainer with a lease in place until March 2026, earning a rent of $3390pm, increasing annually in line with CPI.

Unlike anything else you look at, this presents an unparalleled opportunity. A savvy investor will recognise the benefits of two rental properties on a single purchase. Or an owner-occupier could move in and use the income from the commercial lease to the apartment and pay off the mortgage or bills. In the long term, you could even reinstate the internal stairwell and benefit from your own retail space directly attached to your home. You won’t find anything else that presents this opportunity, especially this close to the inner city precinct.

Apartment Special Features:
– 2 bedrooms, 2 bathrooms
– 1 secure carpark
– Dedicated study area
– Your master bedroom has an ensuite, built-in wardrobe, and direct balcony access.
– Large private balcony with views towards the inner city direction.
– The kitchen features an electric oven, a dishwasher, plenty of cupboard space.
– A secure storage cage in the lower ground basement level.
– This complex’s communal facilities include a recently renovated inground swimming pool, and a gym.
– This is a secure building requiring key fob access to all areas.

Commercial Retail Shopfront Special Features:
– Large open-plan, approximately 100m2 retail space
– Excellent trouble-free long-term commercial tenancy as an established personal trainer & private gym
– Desirable main road location with incredible marketing exposure to passing traffic
– Internal dedicated bathroom with shower, & toilet.
– Internal stairwell to the upstairs apartment, currently closed off to the apartment end, and used as storage space.
– Shared use ground-level parking

Financials:
– Body Corporate Admin Fund fee $1321.38 per qtr (pay on time discount $264.28)
– Body Corporate Sinking Funf fee $1400.66 per qtr (pay on time discount $280.13)
– The body corporate disclosure statement & CMS is available to download further down this page from the “attachments” section
– BCC Rates $484.60 per qtr
– Commercial tenancy income $3390pm, increasing annually in line with CPI (50% rent discount applied in December)
– Rental Appraisal $670 to $700 per week (report available to download from attachments section below)
– AirBnB: ADR (Average Daily Rate) since August is approximately $205, the occupancy has been 84%