17 Geelong Street, East Brisbane QLD 4169

A prime inner-city development opportunity where the groundwork has already been set in place. This 707sq m property, minutes from the CBD and a short walk from a CityCat, is currently occupied by a post-war complex of four strata titled apartments delivering a total rental income of $98,280 per annum. A preliminary town planning report notes it's appropriately zoned, located and of sufficient size to allow for a number of redevelopment opportunities. Beautifully positioned close to the Gabba, major hospitals and excellent schools including Churchie.

* 707sq m inner-city property with post-war brick complex of four apartments
* Strata titled apartments currently generating total $1890/week rental income
* Units one and three are two bedrooms, one bathroom, one car space
* Unit two is one bedroom, one bathroom, one car space
* Unit four is four bedrooms, two bathrooms, two car spaces
* Prelim town planning report notes a number of redevelopment opportunities
* Walk to a CityCat, bus, Mowbray Park, Gabba, Kangaroo Point and Churchie

Outgoings:
Rates - Approx. $480 per quarter, per unit
Insurance - Approx. $3500 per year
Water - Approx. $395 per quarter, per unit