House for sale
20 MAIN STREET,
North Tamborine, QLD
6 3 3
Income Producing Property In The Heart Of The North Tamborine Commercial PrecinctIf the banks and the share market cause you sleepless nights, there really is a better alternative! Property with a decent income situated in an excellent growing location is the way to go. It is even better if that property has the option for future commercial development. Lane Realty is pleased to be able to invite investors to view 20 Main Street, North Tamborine, a property we consider has all the requisite features of a safe investment in less than perfect economic times.
This just over 1/4 acre of prime land situated on the high side of Main Street is positioned between a recently built block of shops on a similarly sized and shaped block of land and the historic Zamia Theatre which has also recently undergone an extensive refurbishment. All the facilities of Main Street are within just a few minutes walk and a good concrete footpath runs along the street frontage. The second photo in our slideshow makes it quite obvious that this is a prime location in an commercial area where there is limited opportunity for further commercial expansion.
The land is currently occupied by 3 brick and tile villas separated by large semi-enclosed carports. These well built villas have undergone substantial refurbishment over the past couple of years and now offer inviting homes for people wanting the convenience and enjoyment of in-town living. Each 2 bedroom villa has a new reverse cycle air conditioner, new floor coverings and fresh decor including attractive drapes and lighting. Insect screening and security screening to entry doors and some windows is also in place. All bedrooms are double in size and have a full wall of built-in robes.
The sellers have also upgraded the exterior and the gardens which are now quite delightful. Exterior improvements include external lighting and fresh paint on those surfaces that need painting. The gardens are in excellent order with each unit having its own small back garden space to improve and grow whatever is desired there. The grounds include many flowering shrubs as well as trees along the street frontage and quite a few mature fruit trees for the tenants' use. With such pleasing living conditions, it is not surprising that there is high demand for this special village lifestyle and the moment one does come available for rent it is snapped up immediately.
The villas are all currently leased and the sellers inform us that the current income from the 3 is $52,260.00 per annum. They also comment that there have been no rent increases for the past 2 years and suggest that there is room for that rent to be increased as each unit comes up for renewal of lease. This would seem a reasonable suggested from Lane Realty's understanding of the rental market here. Because the property is still zoned as Residential, the annual rates for the current period are only $2,719.00 per annum.
The property could be Strata Titled, although its is a perfectly good investment without that extra cost, especially when the option of commercial usage is the real future here. Given the design and layout here, one would think that a it would be quite possible to reconfigure the well built villas into 3 individual shops with not too much difficulty whenever the time seems appropriate. The large area of lawn at the rear would supply an area for car parking and the concrete driveway would need little change.
So stop worrying and grab a safe, solid bricks and mortar investment in a prime commercial location!
* Copy of Sustainability Declaration available at Lane Realty
For Service With A Smile
phone Marilyn McPhail on 07 5545 1800 / 0417 740406
For extensive information about Tamborine Mountain, its properties for sale, permanent & holiday lettings, as well as Lane Realty & staff, please visit our own large web site: www.lanerealty.com.au
Last updated: 11:18AM on Nov 17th 2017