2 Baynes Street, MARGATE QLD 4019

2 lots on 1 title and 810m2 block with a 20 m frontage

$950,000

5 x Flats in Margate CBD

If you want great returns, look no further – here it is.

These flats are a mixture of 1 & 2 bedrooms and are in very decent overall condition.

Located on 2 lots (1 title) the block is 810sqm (approx.) with a 20mtr frontage

Currently fully leased to long-term tenants (all on fixed leases) and happy to stay, the property is presently returning approx $45,000 gross per annum. The opportunity exists to improve returns over time to approx. $1,100 per week with minimal upgrades.

In the heart of Margate CBD, the shops (including Woolworths), transport & the beach are all less than 200mtrs away.

With interest rates at historical lows, this property is a rare commodity. Would be should developers consider the land size, Mixed Res Zoning and location. Those looking for cash-flow, consider the current (and future potential) returns as better than money in the bank.

This property represents a solid value proposition for long-term capital gain with strong cash-flows along the way. What more could you want?

For more information call me today – you’ll be glad you did!!!

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Lana Corlett

Lana Corlett

lana@kindred.com.au
Phone: 07 3284 0512
Mobile: +422 207 218