This 3-bedroom investment property in north Brisbane has huge potential. It's a great set-and-forget investment that could be redeveloped in the future. The clients intend to conduct minor cosmetic renovations initially to enhance the property's rental appeal and value.

We strategically sourced, negotiated and secured for a first-time investor from Sydney, utilising a long-term capital appreciation strategy.

🔸 Purchase price: $934,000

🔸 Property type: 3 bed, 1 bath, 4 car garage/carport, on a 610sqm block

🔸 Location: North Brisbane suburb

🔸 Buyer: first-time investor based in Sydney

🔸 Rent achieved: $620pw (Bought with a tenant in place, no vacancy!)

🔸 Rental appraisal: $720pw (Rent will be increased at the end of the current lease)

🔸 Suburb median rent for a 4 bedroom house: $590pw

🔸 Gross rental yield: 3.45%

🔸 Suburb vacancy rate: 1.2%

🔸 Suburb average 20-year growth: 5.86%

🔸 2024 growth YTD: 16%