| | | | | | Distressed Property of the Week 3/7 Annie Street, Woody Point, QLD 4019 click image to enlarge
THREE BEDROOM UNIT REDUCED BY $80,000!!
Today’s distressed property of the week comes to us from Woody Point, Queensland. The property is a three bedroom unit that was originally advertised for $595,000 back in August 2015. In late September 2015 the vendor reduced the price slightly, then again this month, reducing the property to just $515,000 - a total savings of $80,000!!!
The unit at hand is located on the ground floor at the rear of a small apartment complex. The unit consists of three large bedrooms (the main includes a walk-in-robe and en-suite), two bathrooms (en-suite in master with spa bath), large combined living and dining space, and modern kitchen with stone bench-tops and stainless steel appliances. The listings states that the unit features air-conditioning in the living room and master bedroom and secure underground parking. The unit boasts a convenient undercover terrace with easy to maintain gardens.
Woody Point is located a short 35 minute drive from Brisbane CBD, and a short 11 minute drive to upcoming Kippa-Ring train station. The unit is only a short stroll from popular coast line walking tracks and beaches, such as Bells Beach and Woody Point Jetty.
According to SQM Research, vacancy rates are at a low 1.4% for the area and asking rents for units have increased by 1.0% in the last twelve months. Gross rental yields for the area are currently showing a 4.1% return for units. As it stands, the current owners are asking for $27,500 above what the property sold for back in July 2009!
To get your hands on other distressed properties for sale like this one - check out our Distressed Properties Report HERE. |
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